Alexander & Baldwin Inc. filed SEC Form 8-K: Regulation FD Disclosure, Other Events, Financial Statements and Exhibits
$ALEX
Real Estate Investment Trusts
Real Estate
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 21, 2024
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Item 7.01 Regulation FD Disclosure
On October 21, 2024, Alexander & Baldwin, Inc. (the “Company”) issued a press release announcing the amendment of its revolving credit facility. This information is being furnished as Exhibit 99.1 to this report.
Item 8.01 Other Events.
On October 17, 2024, the Company and its wholly-owned subsidiaries, Alexander & Baldwin, LLC, Alexander & Baldwin, LLC, Series R, Alexander & Baldwin, LLC, Series T, Alexander & Baldwin, LLC, Series M, and Alexander & Baldwin Investments, LLC entered into a Fourth Amended and Restated Credit Agreement ("A&B Revolver") with Bank of America N.A., as administrative agent, First Hawaiian Bank, KeyBank National Association, Wells Fargo Bank, National Association, and other lenders party thereto, which amended and restated the previously existing $500 million committed revolving credit facility ("Revolving Credit Facility").
The terms of the A&B Revolver are substantially unchanged from the preceding Revolving Credit Facility, with the following notable changes:
•Decreases the total revolving commitments to $450 million,
•Extends the term of the Revolving Credit Facility to October 17, 2028, and includes two six-month optional term extensions (April 17, 2029 for the first optional extension and October 17, 2029 for the second optional extension), and
•Amends certain covenants.
The foregoing description of the terms of the A&B Revolver is qualified in its entirety by reference to the A&B Revolver, which is filed as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 21, 2024
ALEXANDER & BALDWIN, INC.
/s/ Clayton K.Y. Chun
Clayton K.Y. Chun
Executive Vice President,
Chief Financial Officer and Treasurer
Chief Financial Officer and Treasurer