Hilton borrowing $500m in HNA repurchases

Hilton officials have announced plans to issue $500 million in senior notes to fund the repurchase of 10 million shares of common stock from HNA Tourism Group, according to a news release. HNA is selling down its 26% stake in Hilton to help alleviate cash-flow issues.

Hilton officials said in the release that any money left over will be “used for general corporate purposes.”