Hilton said its subsidiary Hilton Domestic Operating entered Amendment No. 12 to its credit agreement dated Oct. 25, 2013. The amendment extends the maturity of the senior secured revolving credit facility to the earlier of five years after the amendment effective date or 91 days before the stated maturity of the borrower’s existing term loans. Pricing on SOFR and daily simple SOFR loans is set at a 1% margin when the first lien net leverage ratio is at or below 1.5x, with 0.25 percentage-point step-ups at higher leverage levels. The letter of credit sublimit was increased to USD 500 million. The same-day swingline borrowing sublimit was increased to USD 200 million.
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