Hawaiian Electric plans $267 million redemption of revenue bonds

By Ashley Montgomery

Kansas City, Kan., April 23 - Hawaiian Electric Co., Inc. intends to redeem $267 million of its special purpose revenue bonds issued by the Department of Budget and Finance of the State of Hawaii, according to an 8-K filed with the Securities and Exchange Commission.

The redemption will be funded with proceeds from the recent sale of $417 million of taxable unsecured senior notes by Hawaiian Electric and its subsidiaries Maui Electric Co., Ltd. and Hawaii Electric Light Co., Inc.

The issuer and the electric company are both based in Honolulu.

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