HONOLULU, Oct. 21,
2024 /PRNewswire/ -- Alexander & Baldwin,
Inc. (NYSE: ALEX), a Hawai'i-based owner, operator, and
developer of high-quality commercial real estate in Hawai'i,
announced today that it has amended its revolving credit facility,
which extends the term of the facility to October 2028, with two six-month extension
options and provides for $450 million
of borrowing capacity.
The interest rate under the amended revolving credit
facility remains unchanged from the prior facility, bearing
interest at a rate of SOFR plus 1.05% based on a leverage-based
pricing grid, plus a SOFR adjustment of 0.10%. The facility
fee also remains unchanged at 0.15% based on a leverage-based
pricing grid.
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 Hawaii, American Savings Bank, F.S.B., U.S.
Bank National Association and Central Pacific Bank also participate
in the revolving credit facility.
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