Posted at 3:25 p.m., Tuesday, October 31, 2006
Hawaiian Electric mulls change to debt issuance plan
Advertiser Staff
Hawaiian Electric Industries Inc.'s three utilities withdrew a filing for the sale of $165 million of taxable notes and may now be looking a issuing special purpose revenue bond to raise the money.Hawaiian Electric Co., Hawaii Electric Light Co., and Maui Electric Co. pulled the registration statement for the sale of taxable unsecured notes because of "economic considerations."
The proceeds were to be used to pay off short-term borrowings and for capital expenditures. HEI may consider special purpose revenue bonds, instead, according to its most recent quarterly filing.
Hawaiian Electric Industries plans to issue its third-quarter earnings after stock markets close tomorrow.
