Hilton Worldwide Holdings Inc. (NYSE: HLT) announced that its indirect subsidiary Hilton Domestic Operating Company Inc. intends to offer $1 billion in senior notes due 2031.

The hotel company plans to use $450 million of the net proceeds to repay borrowings under its senior secured revolving credit facility. The remaining funds will be allocated for general corporate purposes.

The notes will not be registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers under Rule 144A and to certain non-U.S. persons in offshore transactions under Regulation S.

The offering will be conducted through initial purchasers and is subject to market conditions and other factors. The announcement was made in accordance with Rule 135c under the Securities Act.