(Reuters) – Utility firm Hawaiian Electric raised going concern doubts on Friday after it revealed that it does not have a financing plan for the $1.71 billion Maui wildfire settlement reached earlier this month.
The company said it was working closely with financial advisers to develop a financing plan for their settlement contribution, and intends to finance the settlement payments through a mix of debt, common equity, equity-linked securities, or other potential options.
The company had agreed to pay a large share of a more than $4 billion legal settlement to compensate victims of last year’s deadly Maui wildfires that killed over 100 people.
(Reporting by Sourasis Bose in Bengaluru; Editing by Anil D’Silva)
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