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Hilton draws $ 1.75 billion in back-up credit for outbreak funding

Date: 2020-03-14

The move is to keep the group financially resilient. The loan has an annual interest rate of 2.18%.

On March 12, Hilton Hotel, one of the world's largest hotel groups, stated that it had withdrawn $ 1.75 billion from a stand-by credit line to fund the new crown pneumonia outbreak. The move was meant to allow the group to retain fiscal flexibility. The loan has an annual interest rate of 2.18%.

Data show that Hilton increased the stand-by credit line to $ 1.75 billion in June last year and then withdrew $ 255 million before the end of last year.

The company originally announced that the expected impact of the epidemic on the group's finances was limited, but as the epidemic spreads, the situation is likely to change. Some people in the financial markets are worried that the epidemic may lead to tight liquidity.