Alexander & Baldwin plans $25 million, WD-40 to place $20 million

By Devika Patel

Knoxville, Tenn., Nov. 17 – The week ended with two small private placements announced.

Honolulu-based transportation, real estate and agribusiness company Alexander & Baldwin, Inc. reported that it priced $25 million 11-year 4.16% shelf notes on Oct. 30 and WD-40 Co., the San Diego maker of lubricants, hand cleaners and household cleaners, arranged to sell $20 million of 3.39% 15-year senior notes.

Alexander & Baldwin

Alexander & Baldwin agreed to sell $25 million 11-year 4.16% shelf notes through a private placement.

The notes due Dec. 8, 2028 will be sold through a second rate-lock commitment under a second amended and restated note purchase and private shelf agreement with Prudential Capital Group.

Proceeds will be used for general corporate purposes.

WD-40

WD-40 will sell $20 million of 3.39% 15-year senior notes to PGIM, Inc. and certain PGIM affiliates.

The notes due Nov. 15, 2032 are being sold under a $105 million shelf with PGIM under which the company has agreed to sell notes to the investor.

Proceeds will be used to pay down short-term debt under the company’s $175 million June 17, 2011 unsecured credit agreement with Bank of America, NA.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.