Alexander & Baldwin Amends Credit Facility, Adds $200 Million Term Loan to Support Strategic Growth

Rhea-AI Summary

Alexander & Baldwin (NYSE: ALEX) amended its unsecured revolving credit facility on November 6, 2025, keeping a $450 million revolver and executing a new $200 million term loan.

The company drew the full $200 million at closing, used proceeds to repay the $191 million outstanding revolver balance, and the term loan matures on November 3, 2030. Interest rate swaps lock the $200 million term loan through maturity, producing an all-in weighted average fixed rate of 4.69%. Management said the moves replenish revolving capacity, lower cost of capital, and extend the weighted average maturity of borrowings by about one year to support strategic growth.

Positive

• Maintains $450M revolving credit capacity
• Drew $200M term loan and repaid $191M revolver balance
• Term loan maturity on Nov 3, 2030 extends debt tenor
• Interest rate swaps lock an all-in fixed rate of 4.69%

Negative

• Adds a $200M fixed-rate obligation through 2030

HONOLULU, Nov. 6, 2025 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) (the "Company") today announced the amendment of its unsecured revolving credit facility, maintaining its existing $450 million borrowing capacity and executing a new $200 million term loan facility to further strengthen its capital structure and financial flexibility.

The terms of the amendment are generally consistent with the preceding revolving credit facility and include the addition of the new term loan facility. At closing, the Company drew the full $200 million term loan and used the proceeds to repay the $191 million outstanding balance on the revolving credit facility. The term loan matures on November 3, 2030. This reallocation from the revolver to a long-term loan replenishes the Company's revolving capacity, lowers its cost of capital, and extends the weighted average maturity of its borrowings.

To align its debt structure with long-term strategy, the Company entered into interest rate swap agreements that lock in the full $200 million term loan through maturity. Based on the current applicable spread, these swaps result in an all-in weighted average fixed rate of 4.69%.

"This amendment to the revolving credit facility strengthens Alexander & Baldwin's balance sheet by increasing liquidity and reducing interest expense, while extending the weighted average maturity of our borrowings by approximately one year," said Clayton Chun, Executive Vice President, CFO & Treasurer. "These enhancements improve our financial flexibility and better position us to advance our strategic growth initiatives."

ABOUT ALEXANDER & BALDWIN
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 21 retail centers, 14 industrial assets, and four office properties, as well as 146 acres of ground lease assets. Over its 155-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.

Investor Contact:
Clayton Chun
(808) 525-8475
investorrelations@abhi.com

FORWARD-LOOKING STATEMENTS
Statements in this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding possible or assumed future results of operations, business strategies, growth opportunities and competitive positions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Such forward-looking statements speak only as of the date the statements were made and are not guarantees of future performance. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from those expressed in or implied by the forward-looking statements. These factors include, but are not limited to, prevailing market conditions and other factors related to the Company's REIT status and the Company's business, and the risk factors discussed in Part I, Item 1A of the Company's most recent Form 10-K under the heading "Risk Factors", Form 10-Q, and other filings with the Securities and Exchange Commission. The information in this release should be evaluated in light of these important risk factors. We do not undertake any obligation to update the Company's forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/alexander--baldwin-amends-credit-facility-adds-200-million-term-loan-to-support-strategic-growth-302607777.html

SOURCE Alexander & Baldwin

FAQ

What did ALEX announce on November 6, 2025 regarding its credit facilities?

ALEX amended its unsecured revolver, kept $450M capacity, and executed a new $200M term loan.

How did ALEX use the $200M term loan it drew on closing?

The company used the full $200M to repay the $191M outstanding balance on the revolving credit facility.

When does ALEX's new $200M term loan mature and what is the fixed rate?

The term loan matures on November 3, 2030, and swaps produce an all-in weighted average fixed rate of 4.69%.

How does the amendment affect ALEX's liquidity and debt maturity profile?

The action replenishes revolver capacity, increases liquidity, and extends weighted average maturity by about one year.

Will ALEX's revolving credit capacity change after the amendment?

No; the company maintained its existing $450M revolving borrowing capacity.

What is the immediate balance sheet impact for ALEX from the transaction?

ALEX replaced a $191M revolver balance with a $200M term loan, creating a long‑term fixed obligation through 2030.