On July 23, 2025, Matson, Inc. entered into a Third Amended and Restated Credit Agreement with Bank of America, N.A. as Agent, along with other lenders. This new agreement, which replaces the previous one from March 31, 2021, offers Matson a $550 million loan commitment with an option to increase by an additional $300 million. The agreement reflects Matson's reduced capital needs, attributed to the near completion of its Aloha Class vessel build program and postponed Jones Act build cycle. Significant changes include revised pricing tied to Matson's consolidated net leverage ratio and the removal of the minimum consolidated interest coverage ratio covenant. Matson can prepay the loan without penalties, and the agreement includes typical financial, affirmative, and negative covenants.
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