other_material
confidence high
sentiment neutral
materiality 0.75
HEI and Hawaiian Electric enter $300M each credit facilities; to redeem all cumulative preferred stock by Oct 15
HAWAIIAN ELECTRIC INDUSTRIES INC
- HEI revolver increased to $300M (from $175M) with maturity extended to Sep 5, 2030.
- Hawaiian Electric revolver increased to $300M (from $200M) with maturity to Sep 4, 2026 (subject to extension).
- All cumulative preferred stock of Hawaiian Electric, Maui Electric and Hawaii Electric Light to be redeemed on Oct 15, 2025 using cash on hand.
- Restricted payments covenant in effect until investment grade achieved or wildfire settlement payment obligations satisfied.
- No new loans drawn except $25M existing outstanding under Hawaiian Electric facility.
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