Hilton Worldwide, which is owned by alternatives manager The Blackstone Group, has hired Deutsche Bank, Goldman Sachs, Bank of America Corp and Morgan Stanley to advise on a refinancing, according to Bloomberg. Blackstone could not be reached for comment by press time.
The refinancing, which would encompass bank debt, CMBS, high yield bonds and time-share financing, would take place later this year ahead of a potential IPO in early 2014.
The company has been proactive at managing its debt burden, buying back debt in 2010 and converting some loans to preferred equity to cut almost $4 billion off the total. It also extended loan maturities to November 2015.
The banking quartet have reportedly also been mandated to run the subsequent listing of Hilton once a refinancing has taken place, according to the Wall Street Journal.