Hilton’s stock jumps after plans for debt offering, upbeat COVID-19 vaccine news

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Hilton Worldwide Holdings Inc. said Monday it plans to offer $1 billion worth of senior notes, due 2029 and 2031. The hotel operator plans to use the proceeds from the debt offering, and available cash, to redeem all of the outstanding 4.250% senior notes due 2024. The stock surged 5.2% in premarket trading, as part of a rally in hotel stocks after upbeat news from Moderna Inc. on its COVID-19 vaccine candidate. Among other hotel operators, shares of Marriott International Inc. surged 4.9% and Hyatt Hotels Corp. climbed 4.8%. Meanwhile, futures for the S&P 500 rallied 1.1%.
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