Matson sells $100M in unsecured notes

Matson Inc., Hawaii’s largest ocean cargo carrier, said Tuesday that it has raised $100 million for "general corporate purposes" through the private placement of 30-year senior unsecured notes.

The notes have a weighted average life of approximately 14.5 years and an interest rate of 4.35 percent, payable semiannually, the company said.

"We are pleased to have closed this private placement transaction which provides Matson with long-term, unsecured debt at an attractive fixed interest rate and demonstrates the company’s continued strong access to external capital," said Joel Wine, Matson’s senior vice president and chief financial officer, in a news release.

Spending flags as Guam tourism declines

Credit and debit card sales on Guam at businesses open at least a year declined 1.7 percent in the fourth quarter as a tourism slowdown affected the economy, according to First Hawaiian Bank’s quarterly business activity report.

First Hawaiian has three branches on Guam and has the U.S. territory’s largest share of loans and deposits.

First Hawaiian said earlier this month that card transactions in Hawaii rose 2.3 percent in the fourth quarter from the year-earlier period and ended up 6.9 percent for the year.

Private equity firm buys Waikiki hotel

The Aqua Wave Waikiki Hotel has been purchased by Rockbridge Partners, completing the company’s 330th hotel investment.

The 247-room hotel is a block from Waikiki Beach and is adjacent to the International Market Place.

"We look forward to exploring options to elevate the standard of Aqua Waikiki Wave to capitalize on the location," said Jim Merkel, president and chief executive officer, in a statement.

Saks Fifth Avenue will open its first Hawaii store in the former IMP space, which is undergoing renovation.

Rockbridge is a unit of Ohio-based Rockbridge Capital LLC. Terms of the acquisition were not disclosed.

Lodge at Koele makes list of top 5 hotels

The Four Seasons Resort Lanai, The Lodge at Koele, is among the top five U.S. hotels, according to U.S. News & World Report.

The Lanai hotel was ranked fifth below The Lodge at Sea Island on Saint Simons Island, Ga., at No. 1; The Inn at Palmetto Bluff in Bluffton, S.C.; The Allison Inn & Spa in Newberg, Ore.; and the Four Seasons Hotel Seattle in Washington.

The Four Seasons Resort Hualalai placed at No. 8 among the top 10.

Of the 169 Best Hotels in the USA, the Four Seasons Resort Maui at Wai­lea ranked No. 11; the Koa Kea Hotel & Resort on Kauai is 60th; the St. Regis Princeville, also on Kauai, is at No. 101; Halekulani, in Waikiki, is at No. 113; at No. 116 is the Four seasons Resort Lanai at Manele Bay; and the Kahala Hotel & Resort is at No. 124.

The consumer-geared publication based its rankings on the collective opinions of travel experts and guests, which were expressed through online reviews and ratings, according to a statement.

Best Hotels lists for Canada, the Caribbean and Mexico also were released.

Consumer confidence highest since August

WASHINGTON » U.S. consumer confidence has risen to its highest point since August on the strength of a brighter view of the job market and business conditions.

The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 80.7 this month from a December reading of 77.5. It was the second consecutive strong gain.

Consumer confidence is closely watched because consumer spending accounts for 70 percent of U.S. economic activity.

Home prices dipped in November

WASHINGTON » U.S. home prices fell slightly in November as colder weather slowed buying, ending nine straight months of price gains.

The Standard & Poor’s/Case-Shiller 20-city home price index slipped 0.1 percent from October to November, partly reversing the previous monthly increase of 0.2 percent. But the index is not adjusted for seasonal variations, so the monthly decline partly reflects slower buying in the late fall as temperatures drop.

But home prices surged for much of 2013, driven by big gains earlier in the year.

Prices have risen 13.7 percent over the past 12 months.

ON THE MOVE

Central Pacific Bank has appointed MaureenMulvihill as an assistant vice president and Kapaa Branch manager. She has 32 years of finance and 25 years of branch management experience, including prior work as a branch manager at American Savings Bank.

The Queen Liliuokalani Trust has named Dawn Harflinger director of investments. She started at the company as an executive fiscal officer in 2005, then moved to the trust’s endowment group in 2006; she previously was focused in the trust’s investment portfolio.