HEl files plan to sell debt, stock

Advertiser Staff

Hawaiian Electric Industries Inc. said yesterday in a filing with U.S. regulators that it plans to sell up to $200 million of senior debt securities, senior and junior subordinated debt securities, preferred and common stock and stock purchase contracts and units, Reuters reported.

Hawaiian Electric Industries — which provides electric power to most Hawai'i residents through its utility Hawaiian Electric Co. and owns the state's third-largest financial institution, American Savings Bank — said it would use proceeds for general corporate purposes including repaying debt and making investments, Reu-ters said.

Last month Hawaiian Electric Industries Inc. surprised analysts with a 42 percent jump in fourth-quarter profit. Its share rose 75 cents yesterday to close at $52.95.