{"id":34131,"date":"2009-10-28T07:03:22","date_gmt":"2009-10-28T11:03:22","guid":{"rendered":"http:\/\/www.pehub.com\/?p=53927"},"modified":"2009-10-28T07:03:22","modified_gmt":"2009-10-28T11:03:22","slug":"report-blackstone-considers-cutting-hilton-debt","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/34131","title":{"rendered":"Report: Blackstone Considers Cutting Hilton Debt"},"content":{"rendered":"

\"\"<\/a>(Reuters) – U.S. private equity firm Blackstone Group (BX.N) has opened discussions with lenders to slash up to $5 billion in debt held by its unit Hilton Hotels, the Wall Street Journal said, citing people familiar with the matter.<\/p>\n

Blackstone is mulling injecting $800 million of fresh equity to buy back the debt at a discount, the paper said.<\/p>\n

Blackstone’s $26 billion deal to buy Hilton was struck at the peak of the buyout bubble in July 2007 and was financed with $20.6 billion of debt and about $5.7 billion of equity. Since then, the hotel market has been hammered by the economic crisis as consumers and businesses have cut back on travel spending.<\/p>\n

The paper said that Blackstone is also seeking to extend its debt maturity by 3 years to 2016, while converting some portion of its debt into equity.<\/p>\n

The $800 million in additional equity would come from funds managed by Blackstone that already have invested in the deal, the paper said.<\/p>\n

A Blackstone spokeswoman declined to comment to the paper.<\/p>\n

Blackstone could not be immediately reached for a comment by Reuters outside of regular U.S. business hours. (Reporting by Sakthi Prasad in Bangalore; Editing by Muralikumar Anantharaman)<\/p>\n

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(Reuters) – U.S. private equity firm Blackstone Group (BX.N) has opened discussions with lenders to slash up to $5 billion in debt held by its unit Hilton Hotels, the Wall Street Journal said, citing people familiar with the matter. Blackstone is mulling injecting $800 million of fresh equity to buy back the debt at a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-34131","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/34131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=34131"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/34131\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=34131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=34131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=34131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}