Hawaiian Electric Enters Material Agreement, Incurs Financial Obligation
| Field | Detail |
|---|---|
| Company | Hawaiian Electric Co Inc |
| Form Type | 8-K |
| Filed Date | Sep 18, 2025 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $500 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
TL;DR
HECO just signed a big deal and owes money. Details in the filing.
AI Summary
Hawaiian Electric Co. Inc. entered into a material definitive agreement on September 18, 2025, which also created a direct financial obligation for the registrant. The filing includes financial statements and exhibits related to this agreement.
Why It Matters
This filing indicates a significant new financial commitment or contract for Hawaiian Electric, which could impact its financial health and operational future.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and incurring direct financial obligations can introduce new financial risks or opportunities that require careful evaluation.
Key Players & Entities
- HAWAIIAN ELECTRIC INDUSTRIES INC (company) — Filer
- HAWAIIAN ELECTRIC CO INC (company) — Filer
- 20250918 (date) — Filing Date
FAQ
What is the nature of the material definitive agreement entered into by Hawaiian Electric Co. Inc.?
The filing states that Hawaiian Electric Co. Inc. entered into a material definitive agreement on September 18, 2025, but does not specify the details of the agreement itself within the provided text.
What type of direct financial obligation was created for the registrant?
The filing indicates the creation of a direct financial obligation for the registrant on September 18, 2025, but the specific details of this obligation are not provided in the text.
What are the key items included in this 8-K filing?
This 8-K filing includes information on the Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, and Financial Statements and Exhibits.
When was this 8-K filing submitted to the SEC?
This 8-K filing was submitted to the SEC on September 18, 2025.
What is the primary business of Hawaiian Electric Co. Inc.?
Hawaiian Electric Co. Inc. is in the Electric Services industry, with SIC code 4911.
Filing Stats: 1,055 words · 4 min read · ~4 pages · Grade level 11.5 · Accepted 2025-09-18 16:30:06
Key Financial Figures
- $500 million — announced that Hawaiian Electric issued $500 million aggregate principal amount of 6.000% Se
Filing Documents
- he-20250918.htm (8-K) — 35KB
- exhibit41hecoindenture.htm (EX-4.1) — 608KB
- 0000354707-25-000056.txt ( ) — 906KB
- he-20250918.xsd (EX-101.SCH) — 2KB
- he-20250918_def.xml (EX-101.DEF) — 16KB
- he-20250918_lab.xml (EX-101.LAB) — 28KB
- he-20250918_pre.xml (EX-101.PRE) — 17KB
- he-20250918_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 18, 2025, Hawaiian Electric Industries, Inc. ("HEI") (NYSE – HEI), the parent company of Hawaiian Electric Company, Inc. ("Hawaiian Electric"), announced that Hawaiian Electric issued $500 million aggregate principal amount of 6.000% Senior Notes due 2033 (the "Notes"). The Notes were issued pursuant to an indenture (the "Indenture"), dated as of September 18, 2025, by and between Hawaiian Electric and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"). The Notes were offered and sold in reliance on exemptions from the registration requirements of the Securities Act of 1933, as amended. The Notes will mature on October 1, 2033. Interest is payable in cash semi-annually on April 1 and October 1 of each year, beginning on April 1, 2026. The net proceeds of this offering will be used to finance capital expenditures, repay long-term debt and/or short-term debt, including its revolving credit facility and term loan, used to finance or refinance capital expenditures and/or reimburse funds used for the payment of capital expenditures. Hawaiian Electric may redeem the Notes, in whole or in part, at any time or from time to time prior to October 1, 2028 at a redemption price equal to 100% of the aggregate principal amount of the Notes to be redeemed, plus a "make-whole" amount set forth in the Indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date. On or after October 1, 2028, Hawaiian Electric may redeem the Notes, in whole or in part, at the redemption prices set forth in the Indenture plus accrued and unpaid interest, if any, to, but not including, the redemption date. The Indenture contains covenants that limit the ability of Hawaiian Electric and its significant subsidiaries, as applicable, to, among other things, (1) create or incur liens on certain assets of Hawaiian Electric and its significant subsidiaries, and (2) merge, consolidat
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 4 .1 Indenture, dated September 18, 2025, between Hawaiian Electric Company, Inc. and U.S. Bank Trust Company, National Association, as trustee. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. The signature of the undersigned companies shall be deemed to relate only to matters having reference to such companies and any subsidiaries thereof. HAWAIIAN ELECTRIC INDUSTRIES, INC. HAWAIIAN ELECTRIC COMPANY, INC. (Registrant) (Registrant) /s/ Scott T. DeGhetto /s/ Paul K. Ito Scott T. DeGhetto Paul K. Ito Executive Vice President and Senior Vice President, Chief Financial Officer Chief Financial Officer and Treasurer Date: September 18, 2025 Date: September 18, 2025 3