secwatch.observer — SEC 8-K summary
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Issuer:     Matson, Inc. (MATX)
CIK:        0000003453
Form:       8-K
Filed at:   2025-07-24T23:59:59+00:00
Accession:  0001558370-25-009540
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Matson amends credit facility to $550M, eliminates interest coverage covenant
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- New $550M credit facility (down from $650M) with 5-year maturity and $300M uncommitted increase option.
- Reduction due to fully-funded Aloha Class vessel build program; next build cycle not until mid-2030s.
- Pricing grid: SOFR + 1.125%-1.75% or base rate + 0.125%-0.75%, tied to leverage ratio.
- Eliminated minimum consolidated interest coverage ratio covenant.
- Also amended two private placement note facilities to eliminate same interest coverage covenant.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/3453/000155837025009540/0001558370-25-009540-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/3453/000155837025009540/matx-20250723x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-009540

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