Blackstone Shores Up Hilton Finances
From The New York Times:
Deal Includes Equity Injection, Debt Slashing
The Blackstone Group has reached a deal to reorganize the debt load of Hilton Hotels, shoring up the finances of one of its crown jewels. The deal would cut Hilton’s debt burden to about $16 billion from $20 billion. Under the terms of the agreement, Blackstone will inject an additional $800 million of capital to buy back Hilton’s debt at a discount. Click here for the full story.
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