NEWS
Hawaii Public Utilities Commission Approves Hawaiian Electric’s $250M Utility Accounts Receivable Credit Facility
On June 27, 2024, Hawaiian Electric, a subsidiary of Hawaiian Electric Industries (NYSE: HE), received approval from the Hawaii Public Utilities Commission (PUC) for a $250 million asset-based lending (ABL) facility. This revolving credit agreement uses certain accounts receivable as collateral and is detailed in HEI's SEC form 8-K filed on May 23, 2024. The approval, expedited at Hawaiian Electric's request, aids in managing liquidity and supports operational activities, especially in light of ongoing litigation related to the Maui wildfires. The PUC’s Decision and Order (number 40866) can be accessed publicly on their website.
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