HAWAIIAN ELECTRIC INDUSTRIES INC (HE): debt financing — HEI suspends quarterly dividend, draws $370M from credit lines amid Maui wildfire recovery

HAWAIIAN ELECTRIC INDUSTRIES INC

HEI drew $170M and Hawaiian Electric drew $200M under revolving unsecured credit facilities; proceeds in short-term investments.
HEI Board suspends quarterly cash dividend on common stock beginning Q3 2023; prior $0.36/share dividend payable Sep 8, 2023 unaffected.
Independent directors Dahl, Kennedy, and Otani move exclusively to American Savings Bank board as of Aug 22, 2023.
95% of customers in affected Maui areas expected to have power restored by end of week; company cites extraordinary climatological event on Aug 8, 2023.
American Savings Bank maintains strong liquidity: $3.1B secured borrowing capacity, 79% deposits FDIC-insured, no risk to customer deposits from fire claims.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HAWAIIAN ELECTRIC INDUSTRIES INC incurred revolving credit of $200 million with not specified at not specified maturing not specified.

Instrument: revolving credit
Principal: $200 million
Counterparty: not specified
Rate: not specified
Maturity: not specified
Event: incurrence

Exact text from the filing

Yesterday, HEI drew $170 million and Hawaiian Electric drew $200 million under their existing revolving unsecured credit facilities.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HAWAIIAN ELECTRIC INDUSTRIES INC incurred revolving credit of $170 million with not specified at not specified maturing not specified.

Instrument: revolving credit
Principal: $170 million
Counterparty: not specified
Rate: not specified
Maturity: not specified
Event: incurrence

Exact text from the filing

Yesterday, HEI drew $170 million and Hawaiian Electric drew $200 million under their existing revolving unsecured credit facilities.

View on SEC.gov

295 debt financings filed in the last 30 days. Browse all debt financings →

HAWAIIAN ELECTRIC INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0000354707-23-000078

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