BEVERLY HILLS, CA Hilton Hotels Corp. has extended the term of its $1.145 billion senior unsecured revolving credit facility until October 18, 2003 and renewed its 364-day senior unsecured revolving credit facility.
The 364-day facility was reduced to $400 million (from $450 million) and remains undrawn. The Bank of New York and The Bank of America, N.A. were lead arrangers on the deal while First Union National Bank and The Bank of Nova Scotia signed on with supporting agent titles and commitments.
A $1.4 billion senior unsecured revolving credit facility expiring November 30, 2004, and used to fund the acquisition of Promus Hotel Corp., remained unchanged. Drown pricing on all facilities is LIBOR + 1.25% including a facility fee. (10/18/00)