-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EzHmw4+5qLNqGASJs+L2tnWz9USNEQiDP2xIyfCsWAN11G4sWF96mwaE3uoqe5WM feaUsJm1pJbee4fkhLS9IA== 0001193125-04-042197.txt : 20040315 0001193125-04-042197.hdr.sgml : 20040315 20040315155814 ACCESSION NUMBER: 0001193125-04-042197 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040315 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HAWAIIAN ELECTRIC INDUSTRIES INC CENTRAL INDEX KEY: 0000354707 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 990208097 STATE OF INCORPORATION: HI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-87782 FILM NUMBER: 04669580 BUSINESS ADDRESS: STREET 1: 900 RICHARDS ST CITY: HONOLULU STATE: HI ZIP: 96813 BUSINESS PHONE: 8085435662 MAIL ADDRESS: STREET 1: 900 RICHARDS STREET CITY: HONOLULU STATE: HI ZIP: 96813 424B3 1 d424b3.htm PRICING SUPPLEMENT NO. 3 Pricing Supplement No. 3
Pricing Supplement No. 3    Filing under Rule 424(b)(3)
Dated: March 12, 2004    Registration File No. 333-87782
(To Prospectus dated August 16, 2002)     

 

$300,000,000

HAWAIIAN ELECTRIC INDUSTRIES, INC.

Medium-Term Notes, Series D

(Fixed Rate Notes)

 

Principal amount: $50,000,000

Interest Rate (fixed rate): 4.23% per annum

Original Issue Date: March 17, 2004

Stated Maturity Date: March 15, 2011

Issue price (as a percentage of principal amount): 100%

Purchasing Agent’s discount (as a percentage of principal amount): 0.60%

Net proceeds to HEI, before expenses (as a percentage of principal amount): 99.40%

Redemption: The Notes will not be subject to a sinking fund and cannot be redeemed by HEI prior to the Stated Maturity Date

Repayment: The Notes are not subject to repayment by HEI at the option of the holders thereof

Interest Payment Dates: Each March 15 and September 15, commencing September 15, 2004

Regular Record Dates: 15 calendar days preceding each Interest Payment Date (whether or not a Business Day)

Minimum Authorized Denominations: $1,000

CUSIP# 41987QBC6

 

Use of Proceeds: Hawaiian Electric Industries, Inc. (“HEI”) expects to use the net proceeds from the sale of the Notes covered by this Pricing Supplement to make short-term loans to its electric utility subsidiary, Hawaiian Electric Company, Inc. (principally to assist it and its subsidiaries in redeeming trust preferred securities) and/or for its working capital and general corporate purposes. Pending the application of such net proceeds, HEI intends to invest such net proceeds in short-term investments.

 

As of the date of this Pricing Supplement, the principal amount of HEI’s Medium-Term Notes, Series D that have been sold (including the Notes to which this Pricing Supplement relates, the 4.00% Medium-Term Notes, Series D due March 7, 2008 and the 5.25% Medium-Term Notes, Series D due March 7, 2013) is $150,000,000.

 

Goldman, Sachs & Co. (allocated $25,000,000), Piper Jaffray & Co. (allocated $15,000,000) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (allocated $10,000,000) acted as principals for HEI in connection with the offer and sale of the Notes.

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