Goldman Sachs filed a registration statement with the U.S. Securities and Exchange Commission for a $3.5 billion commercial mortgage securitization that Hilton Worldwide is planning as part of broader debt refinancing. 

The filing for GS Mortgage Securities Corporation II makes no mention of Hilton; in fact there is very little information about the collateral at all, except that it consists of fixed-rate mortgages secured by first liens on retail, commercial and multifamily property. However a person familiar with the transaction confirmed that it will be backed by Hilton properties and should come to market in November. 

The deal will be structured with two senior, as-yet unsized class A tranches and a three subordinate tranches of class B, C and D notes, according to the filing.

Goldman Sachs will co-lead the deal with Deutsche Bank and Bank of America. The bank did not immediately return calls seeking comment.

At $3.5 billion, the Hilton deal would be the largest CMBS since the credit crisis.

Hilton Worldwide is one of the largest hospitality companies in the world, with 4,041 hotels, resorts and timeshare properties comprising 665,667 rooms in 90 countries and territories. The company, which was taken private by the Blackstone Group in 2007, is refinancing its debt in preparation for an initial public stock offering.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.