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.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
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.
Positive
- 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
Negative
- None.
Details
News Market Reaction – ALEX
The recorded move for ALEX in the trading session of this news was +0.38%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
View original content to download multimedia:https://www.prnewswire.com/news-releases/alexander--baldwin-extends-its-revolving-credit-facility-302282224.html
SOURCE Alexander & Baldwin
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.