UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report:  December 20, 2012

 

 

State of Hawaii

(State or other jurisdiction of incorporation)

 

1001 Bishop Street, Suite 2900, Honolulu, Hawaii  96813 – Hawaiian Electric Industries, Inc. (HEI)

900 Richards Street, Honolulu, Hawaii  96813 – Hawaiian Electric Company, Inc. (HECO)

(Address of principal executive offices and zip code)

 

Registrant’s telephone number, including area code:

(808) 543-5662 - HEI

(808) 543-7771 - HECO

 

None

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 3.02.  Unregistered Sales of Equity Securities

 

Pursuant to plans previously disclosed, on December 20, 2012, HEI made an equity contribution to HECO, its wholly-owned subsidiary, in order for HECO to maintain a balanced capital structure.  HECO’s proceeds from its sale of common stock to HEI will be used to pay down short-term debt, the proceeds of which were used to pay for capital expenditures.

 

To effect the equity contribution, HECO issued 431,541 shares of its common stock to HEI for an aggregate amount of $44 million.  The issuance was made in reliance upon the exemption provided in Section 4(a)(2) of the Securities Act of 1933.

 

2

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. The signature of the undersigned companies shall be deemed to relate only to matters having reference to such companies and any subsidiaries thereof.

 

HAWAIIAN ELECTRIC INDUSTRIES, INC.		HAWAIIAN ELECTRIC COMPANY, INC.
(Registrant)		(Registrant)
/s/ David M. Kostecki		/s/ Tayne S. Y. Sekimura
David M. Kostecki		Tayne S. Y. Sekimura
Vice President-Finance, Controller		Senior Vice President and
and Chief Accounting Officer		Chief Financial Officer
(Principal Accounting Officer of HEI)		(Principal Financial Officer of HECO)
Date: December 20, 2012		Date: December 20, 2012

 

3