Hilton Expects $18 to $21 a Share from IPO

Hilton Files Plans For Initial Public Offering
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NEW YORK -- Hilton Worldwide Holdings Inc. plans to offer approximately 112.8 million shares in an initial public offering of its common stock.

The hotel operator disclosed in a regulatory filing Monday that the offering is expected to price between $18 and $21 a share.

The company anticipates net proceeds of about $1.21 billion, based on the midpoint of the projected price range.

Hilton is offering about 64.1 million shares. Hilton Global Holdings is offering approximately 48.7 million shares.

The McLean, Va.-based company said it expects to use the offering's net proceeds and available cash to repay about $1.25 billion of outstanding term loan borrowings under new senior secured credit facilities. If it raises more than currently estimated, remaining funds will be used to pay back more debt or for other general corporate purposes.

Hilton has 4,080 hotels, resorts and timeshare properties. Its brands include Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, and Hampton Inn.

Hilton was taken private by The Blackstone Group investment firm in October 2007 for $20 billion.

The stock is expected to list on the New York Stock Exchange under the ticker symbol "HLT."


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