By Devika Patel
Knoxville, Tenn., Oct. 12 – Alexander & Baldwin, Inc. plans a private placement of $50 million 4.04% nine-year shelf notes, according to a press release.
The notes will be sold through a rate lock commitment under a second amended and restated note purchase and private shelf agreement with Prudential Capital Group.
Proceeds will be used to pay down the company’s revolving line of credit and for general corporate purposes.
Alexander & Baldwin's business includes transportation, real estate and agribusiness industries primarily in Hawaii. The company is based in Honolulu.
| Issuer: | Alexander & Baldwin, Inc.
|
| Issue: | Shelf notes
|
| Amount: | $50 million
|
| Maturity: | Nov. 21, 2026
|
| Coupon: | 4.04%
|
| Settlement date: | Nov. 21
|
| Distribution: | Private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
