Blackstone said to reach agreement with Hilton on debt

02/21/2010 | Wall Street Journal, The

Blackstone Group and Hilton's lenders have agreed to restructure Hilton Worldwide's balance sheet, cutting the hotel company's debt load by about $4 billion, according to sources close to the negotiations. It is an important restructuring for Blackstone as this represents its single largest investment and it could have been forced to sell the hotel assets to cover the interest payments.

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