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Long-term debt (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of long-term debt |
December 31 | 2022 |  | 2021
(dollars in thousands) |  |  |
Long-term debt of Utilities, net of unamortized debt issuance costs 1 | $ | 1,684,816 |  |  | $ | 1,676,402 |
HEI 2.99% term loan, paid in 2022 | — |  |  | 150,000 |
HEI 3.99% senior notes, due 2023 | 50,000 |  |  | 50,000 |
HEI 4.58% senior notes, due 2025 | 50,000 |  |  | 50,000 |
HEI 4.72% senior notes, due 2028 | 100,000 |  |  | 100,000 |
HEI 2.82% senior notes, due 2028 | 24,000 |  |  | 24,000 |
HEI 2.48% senior notes, due 2028 | 30,000 |  |  | 30,000 |
HEI 2.98% senior notes, due 2030 | 50,000 |  |  | 50,000 |
HEI 3.15% senior notes, due 2031 | 51,000 |  |  | 51,000 |
HEI 2.78% senior notes, due 2031 | 25,000 |  |  | 25,000 |
HEI 2.98% senior notes, due 2032 | 30,000 |  |  | — |
HEI 5.43% senior notes, due 2032 | 75,000 |  |  | — |
HEI 5.43% senior notes, due 2034 | 35,000 |  |  | — |
HEI 3.74% senior notes, due 2051 | 20,000 |  |  | 20,000 |
HEI 3.94% senior notes, due 2052 | 20,000 |  |  | — |
Hamakua Energy 4.02% non-recourse notes, due 2030 2 | 49,048 |  |  | 52,166 |
Mauo LIBOR + 1.375% loan, due 2023 3 | 11,060 |  |  | 21,702 |
Mauo 4.90% non-recourse term loan, due 2034 2 | 17,692 |  |  | 12,686 |
Kaʻieʻie Waho 2.79% non-recourse loan, due 2031 2 | 10,936 |  |  | 12,145 |
Mahipapa 1.90% non-recourse loan, due 2034 to 2036 2 | 58,869 |  |  | — |
Mahipapa 5.25% non-recourse loan, due 2027 2 | 724 |  |  | — |
Less unamortized debt issuance costs and debt discount | (8,165) |  |  | (3,164) |
| $ | 2,384,980 |  |  | $ | 2,321,937 |
1 See components of “Total long-term debt” and unamortized debt issuance costs in Hawaiian Electric and subsidiaries’ Consolidated Statements of Capitalization. 2 Secured by real and personal property of the respective entity, including various land parcels, a 60MW combined cycle facility, photovoltaic and battery storage infrastructure, and a biomass plant. The aggregate net book value of the collateralized property, plant & equipment is approximately $198 million as of December 31, 2022. 3 In December 2021, the loan was amended to allow advances through October 5, 2022, in the maximum aggregate principal amount of up to $50.5 million and in December 2022, extended the required paydown of the loan balance to the lesser of (i) $7 million or (ii) the amount of state renewable tax credits not received by March 5, 2023.
Schedule of notes | The following table displays HEI private placements drawn in 2022.
|  | HEI Series 2022A |  | HEI Series 2022B | HEI Series 2022C |  | HEI Green Series 2022D
Aggregate principal amount |  | $30 million |  | $20 million | $75 million |  | $35 million
Fixed coupon interest rate |  | 2.98% |  | 3.94% | 5.43% |  | 5.43%
Maturity date |  | 10/26/2032 |  | 10/26/2052 | 11/1/2032 |  | 11/1/2034
The 2022 Notes had a delayed draw feature and the Utilities drew down all the proceeds on June 15, 2022.
| Series 2022A
Aggregate principal amount | $60 million
Fixed coupon interest rate | 3.7%
Maturity date | 6/15/2032
Principal amount by company: |
Hawaiian Electric | $40 million
Hawaii Electric Light | $10 million
Maui Electric | $10 million
The 2023 Notes had a delayed draw feature and the Utilities drew down all the proceeds on February 9, 2023.
| Series 2023A | Series 2023B | Series 2023C
Aggregate principal amount | $90 million | $40 million | $20 million
Fixed coupon interest rate |  |  |
Hawaiian Electric | 6.11% | 6.25% | 6.70%
Hawaii Electric Light | 6.25% | — | —
Maui Electric | 6.25% | — | —
Maturity date |  |  |
Hawaiian Electric | 2/9/2030 | 2/9/2033 | 2/9/2053
Hawaii Electric Light | 2/9/2033 | — | —
Maui Electric | 2/9/2033 | — | —
Principal amount by company: |  |  |
Hawaiian Electric | $40 million | $40 million | $20 million
Hawaii Electric Light | $25 million | — | —
Maui Electric | $25 million | — | —

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