Hilton Hotels Corp. announces sale of $375 million of senior unsecured notes.BEVERLY HILLS Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. , Calif.--(BUSINESS WIRE)--April 11, 1997--Hilton Hotels Corp. Friday announced that it has sold $375 million of 10-year senior unsecured notes. The notes will mature on April 15, 2007 and carry an interest rate of 7.95 percent. The settlement date for the transaction is Tuesday, April 15, 1997. The company will use the proceeds from the offering to repay borrowings under its $1.75 billion line of credit and commercial paper outstanding. "We are delighted with the reception this transaction received in the marketplace. We extended our maturities and increased our mix of fixed rate to floating rate debt to 50/50," said Scott A. LaPorta, senior vice president and treasurer of Hilton Hotels
The underwriters for the offering are Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co., Donaldson, Lufkin & Jenrette Securities Corp., J.P. Morgan & Co., Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , Salomon Brothers
Salomon Brothers was a Wall Street investment bank. Inc. and Schroder Wertheim & Co. CONTACT: Hilton Hotels Corp. |
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