Alexander & Baldwin, Inc. announced that it has raised $60 million in debt round of funding from existing lender PGIM, Inc. on April 16, 2024. The company issued unsecured Series M note under the company's existing agreement with Prudential Investment Management, Inc. and its affiliates. The note carries 6.09% fixed rate, and interest on the Series M Note will be paid semi-annually, and the principal balance is due at maturity.

The note will mature on April 15, 2032.