Matson, Inc has entered into a private placement agreement pursuant to which Matson expects to issue $75 million of 30-year senior unsecured notes. The Notes will have a weighted average life of approximately 13 years and will bear interest at a rate of 3.92 percent, payable semi-annually, the company said in a press release.

The Notes are expected to be issued in September 2015, subject to satisfying customary closing conditions, and the proceeds are expected to be used for general corporate purposes, which may include paying down the Company’s revolving credit facility. The Notes have financial and other covenants that are substantially the same as the covenants in the Company’s existing outstanding senior unsecured notes.

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