Hawaiian Electric accounts receivable credit facility approved by Hawaii PUC

Hawaiian Electric Company received approval from the Public Utilities Commission for an asset-based lending facility credit agreement that allows short-term borrowings of up to $250 million on a revolving basis using certain accounts receivable as collateral. The ABL Credit Facility Agreement is described in detail in HEI’s form 8-K filed with the Securities and Exchange Commission on May 23, 2024. “We appreciate the PUC’s approval on the expedited schedule Hawaiian Electric had requested. An accounts receivable facility is a tool commonly used by utilities to support their financing needs, and this will help support the important operational work underway by Hawaiian Electric to support safety, resilience and reliability. Hawaiian Electric continues to prudently manage liquidity as we work through the timing and impacts of litigation related to the Maui wildfires, and this facility provides them with additional flexibility,” said Scott Seu, HEI president and CEO.