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C. 20549</b></p><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:5pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><div style="font-family:'Times New Roman';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1px;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:18pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">FORM&#160;</b><ix:nonNumeric contextRef="Duration_6_22_2020_To_6_22_2020_jA2SCozNUEGOSsHmnRVu2w" name="dei:DocumentType" id="Narr_sUCe5eMvLEiEenr8vsJ_FQ"><b style="font-weight:bold;">8-K</b></ix:nonNumeric></p><p style="font-family:'Times New 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style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Securities registered pursuant to Section 12(b) of the Act:</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><a id="_95e2d414_2416_4bd5_8410_180678ac2fd3"></a><a id="Tc_-QNQm5BQfUWk7t3JbMskyw_1_0"></a><a id="Tc_DNLH6lURw0ueNg75KJaNWQ_1_1"></a><a id="Tc_bmdiqQQ4wkea6iBrizSz5g_1_2"></a><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:33.34%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:25.69%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:40.96%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr style="height:7.25pt;"><td style="vertical-align:top;width:33.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">Title of each class</p></td><td style="vertical-align:top;width:25.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">Trading Symbol(s)</p></td><td style="vertical-align:top;width:40.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">Name of each exchange on which registered</p></td></tr><tr><td style="vertical-align:top;width:33.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_6_22_2020_To_6_22_2020_jA2SCozNUEGOSsHmnRVu2w" name="dei:Security12bTitle" id="Tc_jDFjW6TBF0ynKsq9AJ22JA_2_0">Common Stock, without par value</ix:nonNumeric></p></td><td style="vertical-align:top;width:25.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_6_22_2020_To_6_22_2020_jA2SCozNUEGOSsHmnRVu2w" name="dei:TradingSymbol" id="Tc_Arh1ctSqAE2gu1Yxv0v_mg_2_1">MATX</ix:nonNumeric></p></td><td style="vertical-align:top;width:40.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_6_22_2020_To_6_22_2020_jA2SCozNUEGOSsHmnRVu2w" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="Tc_Gsi21WEqJUe6EuNFPCizCw_2_2">New York Stock Exchange</ix:nonNumeric></p></td></tr></table><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:2pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:6pt 0pt 6pt 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</p><p style="font-family:'Times New Roman';font-size:10pt;padding-left:18pt;text-indent:-18pt;margin:6pt 0pt 6pt 0pt;">Emerging growth company <ix:nonNumeric contextRef="Duration_6_22_2020_To_6_22_2020_jA2SCozNUEGOSsHmnRVu2w" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_2Xws4zoi-kutFW56l560zQ"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman';font-size:10pt;margin:6pt 0pt 6pt 0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family:'Segoe UI Symbol';">&#9744;</span></p><p style="font-family:'Times New Roman';font-size:10pt;padding-bottom:1pt;padding-top:1pt;border-bottom:3.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:4pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><a id="_6469b330_06c4_479c_bc9e_0d28e65bcf5d"></a></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Item 1.01. Entry Into a Material Definitive Agreement.</b></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;">On June 22, 2020, Matson Navigation Company, Inc. (&#8220;MatNav&#8221;), a subsidiary of Matson, Inc. (&#8220;Matson&#8221; or the &#8220;Company&#8221;) entered into (i) an Amendment No. 1 to the Consolidated Agreement (as so amended, the &#8220;Consolidated Agreement&#8221;) among MatNav, the United States of America, represented by the Maritime Administrator of the Maritime Administration (&#8220;MARAD&#8221;) and, with respect to certain provisions, the Company and (ii) a Note Purchase Agreement (the &#8220;Note Purchase Agreement&#8221;) among MatNav, MARAD, and the Federal Financing Bank (the &#8220;FFB&#8221;).  Pursuant to the Consolidated Agreement, the Note Purchase Agreement and certain related agreements (collectively, the &#8220;Title XI Debt Agreements&#8221;), MatNav obtained on June 25, 2020, Title XI financing in the amount of approximately $140&#160;</span><span style="white-space:pre-wrap;">million (the &#8220;Title XI Debt&#8221;).  The proceeds of the Title XI Debt were funded in a single advance to MatNav on June&#160;</span><span style="white-space:pre-wrap;">25, 2020.  </span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;">A fee of approximately $6.7 million was paid to MARAD out of the proceeds at closing.  The net proceeds will be used to repay a portion of the outstanding balance of Matson&#8217;s revolving credit facility, which was drawn in order to finance a portion of the construction costs of </span><i style="font-style:italic;">Kaimana Hila</i><span style="white-space:pre-wrap;"> (the &#8220;Vessel&#8221;).  </span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">The Title XI Debt bears cash interest at a rate of 1.35%, payable semi-annually in arrears on March 15 and September&#160;<span style="white-space:pre-wrap;">15 of each year commencing on September 15, 2020 (each such date, a &#8220;Payment Date&#8221;).  The effective interest rate on the Title&#160;</span><span style="white-space:pre-wrap;">XI Debt for accounting purposes is approximately 1.73%.  On each Payment Date, MatNav will also be required to pay principal equal to approximately $3 million.  The Title XI Debt will mature on March 15, 2044.  MatNav may prepay any amounts outstanding under the Consolidated Agreement subject to a potential prepayment premium or other adjustment, in accordance with the Title XI Debt Agreements.  Once amounts under the Title XI Debt are repaid, they may not be reborrowed.  Mandatory prepayments are required under certain limited circumstances, including specified casualty events with respect to the Vessel.  </span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;">Under the Title XI Debt Agreements, MARAD has guaranteed the obligations of MatNav to the FFB.  MatNav has agreed to reimburse MARAD for any payments it makes under the MARAD guaranty, and MatNav&#8217;s obligations to MARAD with respect to the Title XI Debt are secured by a mortgage on the Vessel and certain related assets, as well as the Existing Vessels (as defined below).  In addition, MatNav&#8217;s obligations to MARAD with respect to the Title XI Debt are guaranteed by the Company under an Amendment to the existing Affiliate Guaranty (the &#8220;Amendment to the Guaranty&#8221;).</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;">The Title XI Debt Agreements contain customary representations and warranties as well as affirmative and negative covenants, defaults and other provisions typical for MARAD-guaranteed financings of this type, with definitions, limitations and financial tests all as negotiated between MatNav and MARAD.  </span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">The Title XI Debt Agreements also provide that three vessels securing MatNav&#8217;s existing MARAD ship financing (the &#8220;Existing MARAD Financing&#8221;) &#8211; <i style="font-style:italic;">Manukai,</i> <i style="font-style:italic;">Maunawili </i>and<i style="font-style:italic;"> Daniel K. Inouye</i><span style="white-space:pre-wrap;"> (the &#8220;Existing Vessels&#8221;) &#8211; also secure the new Title XI Debt until the Title XI Debt on the Existing Vessels is retired in 2028, 2029 and 2043, respectively.  The balance of the Existing MARAD Financing is $225.5 million as of the date hereof.  </span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">The foregoing description is qualified in its entirety by the terms and conditions set forth in the Amendment No. 1 to the Consolidated Agreement, the Note Purchase Agreement and the Amendment to the Guaranty, copies of which are filed as Exhibits 10.1, 10.2 and 10.3, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_9a908d68_2cb8_4728_8a77_c1ad2a9f53fc"></a><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="display:inline-block;text-indent:0pt;width:72pt;"><b style="color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:bold;text-align:left;">Item 2.03.</b></span><b style="font-weight:bold;">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</b></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">The information set forth in Item 1.01 herein is hereby incorporated in its entirety into Item 2.03 by reference.</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_1f961f2f_2366_450e_b7e4_0a85ba63b54b"></a></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:20.15pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">2</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="display:inline-block;text-indent:0pt;width:72pt;"><b style="color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:bold;text-align:left;">Item 9.01.</b></span><b style="font-weight:bold;">Financial Statements And Exhibits.</b></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">(d)&#160;Exhibits.</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="background-color:#ffff00;visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:11.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="background-color:#ffff00;font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:1.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:87.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:11.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Exhibit No.</p></td><td style="vertical-align:top;width:1.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:87.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Exhibit</p></td></tr><tr><td style="vertical-align:top;width:11.11%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">10.1</p></td><td style="vertical-align:top;width:1.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:87.03%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><a href="matx-20200622xex10d1.htm"><span style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Amendment No. 1 dated June 22, 2020, to Consolidated Agreement, Contract No. MA-14454 dated as of April 27, 2020 among Matson Navigation Company, Inc., the United States of America, represented by the Maritime Administrator of the Maritime Administration and, with respect to certain provisions, Matson, Inc.</span></a><span style="white-space:pre-wrap;">  </span></p></td></tr><tr><td style="vertical-align:top;width:11.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:87.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:11.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">10.2</p></td><td style="vertical-align:top;width:1.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:87.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><a href="matx-20200622xex10d2.htm"><span style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Note Purchase Agreement dated as of June 22, 2020 among Matson Navigation Company, Inc., the United States of America, represented by the Maritime Administrator of the Maritime Administration and the Federal Financing Bank.</span></a><span style="white-space:pre-wrap;">  </span></p></td></tr><tr><td style="vertical-align:top;width:11.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:87.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:11.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">10.3</p></td><td style="vertical-align:top;width:1.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:87.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><a href="matx-20200622xex10d3.htm"><span style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Amendment dated June 22, 2020 to Affiliate Guaranty dated as of April 27, 2020 executed by Matson,&#160;Inc. and consented to by MARAD.</span></a></p></td></tr><tr><td style="vertical-align:top;width:11.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:87.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:11.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">104</p></td><td style="vertical-align:top;width:1.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:87.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101).</p></td></tr></table><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_a66c65da_7eae_4b64_b9e2_2576ae2863fb"></a></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:20.15pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">3</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><span style="text-decoration:underline;text-decoration-color:#000000;">SIGNATURE</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0.05pt 0pt 0pt 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:42.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:42.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">MATSON,&#160;INC.</p></td></tr><tr><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:42.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:42.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:42.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">/s/ Joel M. Wine</p></td></tr><tr><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:42.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Joel M. Wine</p></td></tr><tr><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:42.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Senior Vice President and Chief Financial Officer</p></td></tr><tr><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:42.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:42.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:57.45%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;">Dated:  June 25, 2020</span></p></td><td style="vertical-align:top;width:42.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr></table><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:20.15pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">4</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></div>
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{"company-data": {"conformed-name": "Matson, Inc.", "cik": "0000003453", "assigned-sic": "4400", "irs-number": "990032630", "state-of-incorporation": "HI", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34187", "film-number": "20989977"}, "business-address": {"street1": "1411 SAND ISLAND PARKWAY", "city": "HONOLULU", "state": "HI", "zip": "96819", "phone": "808-848-1211"}, "mail-address": {"street1": "1411 SAND ISLAND PARKWAY", "city": "HONOLULU", "state": "HI", "zip": "96819"}, "former-company": {"former-conformed-name": "ALEXANDER & BALDWIN INC", "date-changed": "19920703"}}
​
​
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 (Date of earliest event reported):
June 25, 2020 (
June
22
,
2020
)
​
MATSON, INC.
(Exact Name of Registrant as Specified in its Charter)
_____________________
​
Hawaii
001-34187
99-0032630
(State or Other Jurisdiction of
Incorporation)
​
(Commission File Number)
​
(I.R.S. Employer Identification
No.)
​
​
1411 Sand Island Parkway
​
Honolulu
,
Hawaii
​
96819
(Address of principal executive offices)
​
(zip code)
​
Registrant's telephone number, including area code:
(
808
)
848-1211
(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:
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
​
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
​
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
​
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
​
Securities registered pursuant to Section 12(b) of the Act:
​
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, without par value
MATX
New York Stock Exchange
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
​
​
​
Item 1.01. Entry Into a Material Definitive Agreement.
​
On June 22, 2020, Matson Navigation Company, Inc. ("MatNav"), a subsidiary of Matson, Inc. ("Matson" or the "Company") entered into (i) an Amendment No. 1 to the Consolidated Agreement (as so amended, the "Consolidated Agreement") among MatNav, the United States of America, represented by the Maritime Administrator of the Maritime Administration ("MARAD") and, with respect to certain provisions, the Company and (ii) a Note Purchase Agreement (the "Note Purchase Agreement") among MatNav, MARAD, and the Federal Financing Bank (the "FFB").  Pursuant to the Consolidated Agreement, the Note Purchase Agreement and certain related agreements (collectively, the "Title XI Debt Agreements"), MatNav obtained on June 25, 2020, Title XI financing in the amount of approximately $140
million (the "Title XI Debt").  The proceeds of the Title XI Debt were funded in a single advance to MatNav on June
25, 2020.
​
A fee of approximately $6.7 million was paid to MARAD out of the proceeds at closing.  The net proceeds will be used to repay a portion of the outstanding balance of Matson's revolving credit facility, which was drawn in order to finance a portion of the construction costs of
Kaimana Hila
(the "Vessel").
​
The Title XI Debt bears cash interest at a rate of 1.35%, payable semi-annually in arrears on March 15 and September
15 of each year commencing on September 15, 2020 (each such date, a "Payment Date").  The effective interest rate on the Title
XI Debt for accounting purposes is approximately 1.73%.  On each Payment Date, MatNav will also be required to pay principal equal to approximately $3 million.  The Title XI Debt will mature on March 15, 2044.  MatNav may prepay any amounts outstanding under the Consolidated Agreement subject to a potential prepayment premium or other adjustment, in accordance with the Title XI Debt Agreements.  Once amounts under the Title XI Debt are repaid, they may not be reborrowed.  Mandatory prepayments are required under certain limited circumstances, including specified casualty events with respect to the Vessel.
​
Under the Title XI Debt Agreements, MARAD has guaranteed the obligations of MatNav to the FFB.  MatNav has agreed to reimburse MARAD for any payments it makes under the MARAD guaranty, and MatNav's obligations to MARAD with respect to the Title XI Debt are secured by a mortgage on the Vessel and certain related assets, as well as the Existing Vessels (as defined below).  In addition, MatNav's obligations to MARAD with respect to the Title XI Debt are guaranteed by the Company under an Amendment to the existing Affiliate Guaranty (the "Amendment to the Guaranty").
​
The Title XI Debt Agreements contain customary representations and warranties as well as affirmative and negative covenants, defaults and other provisions typical for MARAD-guaranteed financings of this type, with definitions, limitations and financial tests all as negotiated between MatNav and MARAD.
​
The Title XI Debt Agreements also provide that three vessels securing MatNav's existing MARAD ship financing (the "Existing MARAD Financing") –
Manukai,
Maunawili
and
Daniel K. Inouye
(the "Existing Vessels") – also secure the new Title XI Debt until the Title XI Debt on the Existing Vessels is retired in 2028, 2029 and 2043, respectively.  The balance of the Existing MARAD Financing is $225.5 million as of the date hereof.
​
The foregoing description is qualified in its entirety by the terms and conditions set forth in the Amendment No. 1 to the Consolidated Agreement, the Note Purchase Agreement and the Amendment to the Guaranty, copies of which are filed as Exhibits 10.1, 10.2 and 10.3, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
​
​
Item 2.03.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
​
The information set forth in Item 1.01 herein is hereby incorporated in its entirety into Item 2.03 by reference.
​
​
2
​
Item 9.01.
Financial Statements And Exhibits.
​
(d) Exhibits.
​
​
Exhibit No.
​
Exhibit
10.1
​
Amendment No. 1 dated June 22, 2020, to Consolidated Agreement, Contract No. MA-14454 dated as of April 27, 2020 among Matson Navigation Company, Inc., the United States of America, represented by the Maritime Administrator of the Maritime Administration and, with respect to certain provisions, Matson, Inc.
​
​
​
10.2
​
Note Purchase Agreement dated as of June 22, 2020 among Matson Navigation Company, Inc., the United States of America, represented by the Maritime Administrator of the Maritime Administration and the Federal Financing Bank.
​
​
​
10.3
​
Amendment dated June 22, 2020 to Affiliate Guaranty dated as of April 27, 2020 executed by Matson, Inc. and consented to by MARAD.
​
​
​
104
​
Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101).
​
​
​
3
​
SIGNATURE
​
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
​
​
​
​
​
​
MATSON, INC.
​
​
​
​
​
/s/ Joel M. Wine
​
Joel M. Wine
​
Senior Vice President and Chief Financial Officer
​
​
​
​
Dated:  June 25, 2020
​
​
​
​
​
​
4
​