Alexander & Baldwin Retires $230M of Private Notes and Terminates Credit Facilities After Merger

Alexander & Baldwin executed a broad debt payoff following its merger, terminating its syndicated revolving credit facility and property-level Manoa Marketplace financing on March 12, 2026, and fully prepaying its AIG and PGIM private placement notes on March 17, 2026. The company repaid $25.0 million of AIG Notes with a total outlay of about $25.3 million, including a make-whole, and retired $205.125 million of PGIM Notes with a total payment of approximately $214.6 million, including yield-maintenance. These actions simplify the balance sheet, remove near- and medium-term maturities, and realign the capital structure under new ownership.Agreement 1: Alexander & Baldwin Terminates Revolving Credit Agreement Following Merger ClosingAgreement terminated: Fourth Amended and Restated Credit Agreement (syndicated credit facility)Counterparty: Bank of America, First Hawaiian Bank, KeyBank, Wells Fargo Bank and other lendersOriginal agreement date: Oct 17 2024Termination date: Mar 12 2026Termination type: EarlyExit fees / payments: NoneReason: Post-merger debt payoff and simplificationAgreement 2: Alexander & Baldwin Repays Manoa Marketplace Loan and Note With First Hawaiian BankAgreement terminated: Manoa Marketplace Loan Agreement and Promissory NoteCounterparty: First Hawaiian BankOriginal agreement date: Aug 01 2016Termination date: Mar 12 2026Termination type: EarlyExit fees / payments: NoneReason: Post-merger balance sheet cleanupAgreement 3: Alexander & Baldwin Prepays $25 Million AIG Notes, Pays Make-WholeAgreement terminated: 4.30% Series 2017-1 Senior Notes due 2029 (AIG Notes)Counterparty: AIG Asset Management and noteholdersOriginal agreement date: Dec 20 2017Termination date: Mar 17 2026Termination type: EarlyExit fees / payments: Approx $25,295,616 total payoff including accrued interest and make-wholeReason: Refinance and retire debt after mergerAgreement 4: Alexander & Baldwin Prepays $205.1 Million PGIM Notes With Yield-MaintenanceAgreement terminated: PGIM Senior Notes (Series C, F, H, K, G, L, I, M)Counterparty: PGIM and noteholdersOriginal agreement date: Apr 15 2024Termination date: Mar 17 2026Termination type: EarlyExit fees / payments: Approx $214,623,377 total payoff including accrued interest and yield-maintenanceReason: Streamline liabilities following mergerOriginal SEC Filing: Alexander & Baldwin, Inc. [ ALEX ] - 8-K - Mar. 17, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.