Long-term debt (Tables)

12 Months Ended

Dec. 31, 2018

Long-term Debt, Unclassified [Abstract]

Schedule of long-term debt

On May 30, 2018, the Utilities issued, through a private placement pursuant to separate Note Purchase Agreements (the Note Purchase Agreements), the following unsecured notes bearing taxable interest (the Notes):

	Series 2018A	Series 2018B	Series 2018C
Aggregate principal amount	$67.5 million	$17.5 million	$15 million
Fixed coupon interest rate	4.38%	4.53%	4.72%
Maturity date	May 30, 2028	May 30, 2033	May 30, 2048
State of Hawaii Department of Budget and Finance loaned the proceeds to:
Hawaiian Electric	$52 million	$12.5 million	$10.5 million
Hawaii Electric Light	$9 million	$3 million	$3 million
Maui Electric	$6.5 million	$2 million	$1.5 million

On October 4, 2018, HEI closed on a private placement transaction to issue $150 million senior unsecured notes in two tranches, as follows:

	HEI Series 2018A	HEI Series 2018B
Aggregate principal amount due at maturity	$50 million	$100 million
Fixed coupon interest rate	4.58%	4.72%
Maturity date	December 15, 2025	December 15, 2028
Draw date	October 4, 2018	December 18, 2018

December 31	2018			2017
(dollars in thousands)
Long-term debt of Utilities, net of unamortized debt issuance costs 1	$	1,418,802		$	1,368,479
Hamakua Energy 4.02% notes, due 2030	63,438			67,325
HEI 2.99% term loan, due 2022	150,000			150,000
HEI 5.67% senior notes, due 2021	50,000			50,000
HEI 3.99% senior notes, due 2023	50,000			50,000
HEI 4.58% senior notes, due 2025	50,000			—
HEI 4.72% senior notes, due 2028	100,000			—
Less unamortized debt issuance costs	(2,599		)	(2,007		)
	$	1,879,641		$	1,683,797

¹ See components of “Total long-term debt” and unamortized debt issuance costs in Hawaiian Electric and subsidiaries’ Consolidated Statements of Capitalization.