Alexander & Baldwin, Inc. announced on October 21, 2024, that it has amended its revolving credit facility, extending the term of the facility to October 2028. The agreement includes two additional six-month extension options, providing long-term financial flexibility.
The amended facility maintains a borrowing capacity of $450 million, ensuring ample liquidity for the company's strategic initiatives. The interest rate under the facility remains unchanged at SOFR plus 1.05%, based on a leverage-based pricing grid, plus a SOFR adjustment of 0.10%.
This extension of the credit facility's maturity date into 2028, along with unchanged favorable interest rates and facility fees, enhances Alexander & Baldwin's balance sheet strength. It supports the company's ability to fund future growth and manage its capital structure effectively.
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