Old Hilton collateral being securitized. Structure is one pass-through note $2.664bln offered ($406mm non-offered interests), 2.86 WAL, 4.54 fully-extended WAL, L+175 coupon.
You'll recall that the toal debt is a whopping $20.6 billion (orig face, $19.256 outstanding) from the $25 billion buyout by Blackstone at the peak. This consists of a nearly $9 billion senior mortgage ($2.664 of which is going in this BALL 2010-HLTN deal), and then another $10 billion-ish of mezzanine debt (9 tranches) and unsecured debt ($666mm). The debt was restructured some, including the retirement of $1.79billion of mezz debt - total outstanding today = $17.4mm. There's also another couple-to-three billion of subordinate loans.
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