Hilton $1.9 Billion Senior Notes Offering

Davis Polk advised the representative of the initial purchasers in connection with the offering by Hilton Domestic Operating Company Inc., an indirect subsidiary of Hilton Worldwide Holdings Inc., of $800 million aggregate principal amount of its 3.750% senior notes due 2029 and $1.1 billion aggregate principal amount of its 4.000% senior notes due 2031. Hilton intends to use the net proceeds from the offering, together with available cash, to redeem all of its outstanding 4.250% senior notes due 2024 and 4.625% senior notes due 2025, and to pay the related redemption premiums, fees and expenses related thereto.

Hilton is a global hospitality company, with a portfolio of 18 world-class brands comprising more than 6,333 properties with more than 998,282 rooms in 118 countries and territories.

The Davis Polk corporate team included partners Michael Kaplan and Marcel Fausten and associates Dan Gibbons and Michael Jiang. Partner William A. Curran and associate Tomislava Dragicevic provided tax advice. Counsel Loyti Cheng provided environmental advice. Counsel Daniel F. Forester provided intellectual property advice. All members of the Davis Polk team are based in the New York office.