SEC Filing Summary: Alexander & Baldwin, Inc.
Business Context and Reporting Period
This Form 8-K was filed on February 20, 2009, by Alexander & Baldwin, Inc. (A&B), a Hawaii-based registrant. The report details a material amendment to an existing financing agreement with Prudential entities.
Key Financial Metrics and Obligations
The filing does not provide specific revenue, profit, cash flow, or margin data. It focuses on a credit facility:
- Agreement Type: Unsecured note purchase and private shelf agreement.
- Counterparty: Prudential Investment Management, Inc. and related entities.
- Aggregate Limit: Up to $400,000,000 (less outstanding principal and committed amounts).
- Original Maturity: April 19, 2009.
- Amended Maturity: Extended to April 19, 2012.
- Effective Date of Amendment: March 8, 2009.
Material Changes
The primary material change is the extension of the maturity date of the 2006 Note Purchase and Private Shelf Agreement by three years. This amendment was executed on February 20, 2009, to extend the facility's availability beyond its original expiration in April 2009.
Outlook, Risks, and Management Commentary
The filing contains no forward-looking guidance, management commentary on operational outlook, or specific risk factors beyond the terms of the amended agreement. The extension suggests a continued reliance on this credit facility for liquidity needs.
Investor Verification Checklist
- Verify the total principal amount of notes currently outstanding under the agreement to determine remaining borrowing capacity.
- Confirm the interest rate terms and any covenants associated with the amended agreement (Exhibit 10.1).
- Review the company's most recent 10-K or 10-Q for updated liquidity and debt service coverage ratios.
- Check for any subsequent filings regarding the actual drawdown of funds under this extended facility.