Press Release
February 15, 2001
BEVERLY HILLS, CA -- Hilton Hotels Corp. (NYSE:HLT) yesterday completed the sale of $300 million 10-year Senior
Unsecured Notes.
The notes, rated Baa3/BBB-, carry a coupon of 8.25 percent and have a maturity date of Feb. 15, 2011. Proceeds
from the sale will be used to repay indebtedness under the company's revolving credit facility expiring Oct. 18,
2003.
``The offering was well-executed and received a strong reception in the marketplace, as demonstrated by an oversubscription
of almost 2-to-1,'' said Mariel C. Albrecht, senior vice president and treasurer. ``This transaction enabled us
to reduce our percentage of floating rate debt and extend our maturities.''
Joint Lead Managers on the transaction were Morgan Stanley Dean Witter (sole book runner) and Banc of America Securities
LLC. Co-managers included First Union Securities Inc.; Scotia Capital (USA) Inc.; Wachovia Securities Inc.; Banc
One Capital Markets Inc.; SG Cowen Securities Corp.; Credit Lyonnais Securities (USA) Inc.; Credit Suisse First
Boston Corp.; BNY Capital Markets Inc.; and Utendahl Capital Partners L.P.
Visit http://www.hilton.com.
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Contact:
Hilton Hotels Corp., Beverly Hills
Marc Grossman, 310/205-4030