Alexander & Baldwin Extends Its Revolving Credit Facility
Alexander & Baldwin, Inc. (NYSE: ALEX), a Hawai'i-based commercial real estate company, has amended its revolving credit facility. The key changes include:
1. Extended term to October 2028, with two six-month extension options
2. Borrowing capacity of $450 million
3. Interest rate remains at SOFR plus 1.05% based on a leverage-based pricing grid, plus a SOFR adjustment of 0.10%
4. Facility fee unchanged at 0.15% based on a leverage-based pricing grid
The facility's Joint Lead Arrangers and Joint Bookrunners are BofA Securities, Inc., First Hawaiian Bank, KeyBanc Capital Markets Inc., and Wells Fargo Securities, Bank of America N.A. serves as the administrative agent.
Alexander & Baldwin, Inc. (NYSE: ALEX), una società di immobili commerciali con sede alle Hawai'i, ha modificato la sua linea di credito revolving. Le principali modifiche includono:
1. Termine esteso fino a ottobre 2028, con due opzioni di estensione di sei mesi
2. Capacità di prestito di 450 milioni di dollari
3. Il tasso di interesse rimane a SOFR più 1,05% basato su una griglia di prezzi basata sul leverage, più un adeguamento SOFR dello 0,10%
4. La commissione per la struttura rimane invariata a 0,15% basata su una griglia di prezzi basata sul leverage
I Joint Lead Arrangers e Joint Bookrunners della struttura sono BofA Securities, Inc., First Hawaiian Bank, KeyBanc Capital Markets Inc. e Wells Fargo Securities. Bank of America N.A. funge da agente amministrativo.
Alexander & Baldwin, Inc. (NYSE: ALEX), una empresa de bienes raíces comerciales con sede en Hawái, ha modificado su línea de crédito revolvente. Los cambios clave incluyen:
1. Prórroga del término hasta octubre de 2028, con dos opciones de extensión de seis meses
2. Capacidad de préstamo de 450 millones de dólares
3. La tasa de interés se mantiene en SOFR más 1,05% basado en una estructura de precios basada en apalancamiento, más un ajuste SOFR del 0,10%
4. La tarifa de la instalación se mantiene sin cambios en 0,15% basada en una estructura de precios basada en apalancamiento
Los Joint Lead Arrangers y Joint Bookrunners de la instalación son BofA Securities, Inc., First Hawaiian Bank, KeyBanc Capital Markets Inc. y Wells Fargo Securities. Bank of America N.A. actúa como agente administrativo.
하와이에 본사를 둔 상업용 부동산 회사인 Alexander & Baldwin, Inc. (NYSE: ALEX)는 순환 신용 시설을 수정했습니다. 주요 변경 사항은 다음과 같습니다:
1. 기간 연장: 2028년 10월까지 두 번의 6개월 연장 옵션 포함
2. 대출 용량: 4억 5천만 달러
3. 이자율은 SOFR에 1.05%가 더해진 금리로, 레버리지 기반 가격표에 따라 결정되고, SOFR 조정이 0.10% 추가됨
4. 시설 수수료는 0.15%로 변경되지 않음, 레버리지 기반 가격표 기준
이 시설의 공동 리드 주관사 및 공동 북런너는 BofA Securities, Inc., First Hawaiian Bank, KeyBanc Capital Markets Inc., Wells Fargo Securities입니다. Bank of America N.A.는 관리 에이전트 역할을 합니다.
Alexander & Baldwin, Inc. (NYSE: ALEX), une entreprise d'immobilier commercial basée à Hawai'i, a modifié sa ligne de crédit renouvelable. Les principaux changements incluent :
1. Prolongation de la durée jusqu'en octobre 2028, avec deux options de prolongation de six mois
2. Capacité d'emprunt de 450 millions de dollars
3. Le taux d'intérêt reste à SOFR plus 1,05% basé sur une grille tarifaire dynamique, plus un ajustement SOFR de 0,10%
4. Les frais d'établissement demeurent inchangés à 0,15% basés sur une grille tarifaire dynamique
Les arrangeurs principaux et les chefs de file de l'opération sont BofA Securities, Inc., First Hawaiian Bank, KeyBanc Capital Markets Inc. et Wells Fargo Securities. Bank of America N.A. sert d'agent administratif.
Alexander & Baldwin, Inc. (NYSE: ALEX), ein auf Hawai'i ansässiges Unternehmen für gewerbliche Immobilien, hat seine umschuldungsfähige Kreditlinie geändert. Die wichtigsten Änderungen sind:
1. Verlängerung der Laufzeit bis Oktober 2028, mit zwei Optionen zur Verlängerung um jeweils sechs Monate
2. Kreditkapazität von 450 Millionen US-Dollar
3. Der Zinssatz bleibt bei SOFR plus 1,05% basierend auf einer leveragespezifischen Preisgestaltung, zuzüglich einer SOFR-Anpassung von 0,10%
4. Die Einrichtungsgebühr bleibt unverändert bei 0,15%, basierend auf einer leveragespezifischen Preisgestaltung
Die Joint Lead Arranger und Joint Bookrunner der Einrichtungsstruktur sind BofA Securities, Inc., First Hawaiian Bank, KeyBanc Capital Markets Inc. und Wells Fargo Securities. Bank of America N.A. fungiert als Verwaltungsagent.
- Extended revolving credit facility term to October 2028 with additional extension options
- Maintained $450 million borrowing capacity
- Interest rate and facility fee remain unchanged, indicating stable financial terms
- None.
Insights
Alexander & Baldwin's extension of its revolving credit facility to October 2028 is a positive development for the company's financial flexibility. The
The unchanged interest rate structure, based on SOFR plus
For investors, this extension reduces refinancing risk and provides clarity on the company's access to capital for the next four years. The additional two six-month extension options further enhance this security. The involvement of major financial institutions as arrangers and agents underscores the credibility of the facility and ALEX's standing in the financial markets.
The interest rate under the amended revolving credit facility remains unchanged from the prior facility, bearing interest at a rate of SOFR plus
BofA Securities, Inc., First Hawaiian Bank, KeyBanc Capital Markets Inc., and Wells Fargo Securities, LLC served as Joint Lead Arrangers and Joint Bookrunners for the revolving credit facility. Bank of America N.A. is the administrative agent. First Hawaiian Bank, KeyBank National Association and Wells Fargo Bank, National Association are Syndication Agents. Bank of
About Alexander & Baldwin, Inc.
Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B") is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 4.0 million square feet of commercial space in Hawai'i, including 22 retail centers, 14 industrial assets and four office properties, as well as 142 acres of ground lease assets. Over its 154-year history, A&B has evolved with the state's economy and played a leadership role in the development of the agricultural, transportation, tourism, construction, residential and commercial real estate industries. Learn more about A&B at www.alexanderbaldwin.com.
Contact:
Jordan Hino
(808) 525-8475
investorrelations@abhi.com
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SOURCE Alexander & Baldwin
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