secwatch.observer — SEC 8-K summary
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Issuer:     HAWAIIAN ELECTRIC INDUSTRIES INC (HE)
CIK:        0000354707
Form:       8-K
Filed at:   2024-05-23T23:59:59+00:00
Accession:  0000354707-24-000029
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hawaiian Electric enters $250M ABL facility secured by utility receivables, pending PUC approval
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- Facility allows borrowings up to $250M on a revolving basis using accounts receivable as collateral.
- Interest rate: SOFR + 2.00-3.00% or base rate + 1.00-2.00%, depending on revolving line utilization.
- Initial term 364 days; extends to 3 years upon PUC approval, with three 1-year extension options.
- Proceeds used for working capital, general corporate purposes, and capital projects.
- PUC approval required for effectiveness; facility terminates if denied.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000029/0000354707-24-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/46207/000035470724000029/he-20240517.htm
  HTML page:      https://secwatch.observer/filing/0000354707-24-000029

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