HASI Prices Private Offering of $700 Million of 6.375% Green Senior Unsecured Notes due 2034
25 Giugno 2024 - 1:00PM
Business Wire
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
(“HASI,” “our,” or the “Company”) (NYSE: HASI), a leading investor
in climate solutions, today announced that it has priced its
private offering of $700 million in aggregate principal amount of
6.375% green senior unsecured notes due 2034 (the “Notes”). At
issuance, the Notes will be guaranteed by Hannon Armstrong
Sustainable Infrastructure, L.P., Hannon Armstrong Capital, LLC,
HAT Holdings I LLC, HAT Holdings II LLC, HAC Holdings I LLC and HAC
Holdings II LLC. The settlement of the Notes is expected to occur
on July 1, 2024, subject to customary closing conditions. The Notes
will have certain registration rights.
The Company estimates that the net proceeds from the offering of
the Notes will be approximately $688 million, after deducting the
initial purchasers’ discounts and estimated offering expenses. The
Company intends to utilize the net proceeds from the offering of
the Notes to temporarily repay a portion of the outstanding
borrowings under its unsecured credit facility and to repurchase
for cash certain of its 6.00% Senior Notes due 2025 (the “2025
Notes”) as described below. The Company will use cash equal to the
net proceeds from the offering to acquire, invest in or refinance,
in whole or in part, new and/or existing eligible green projects.
These eligible green projects may include projects with
disbursements made during the twelve months preceding the issue
date of the Notes and those with disbursements to be made two years
following the issue date. Prior to the full investment of such net
proceeds, the Company intends to invest an amount equal to such net
proceeds in interest-bearing accounts and short-term,
interest-bearing securities and/or such net proceeds may be
temporarily used to repay certain indebtedness.
The Notes and the related guarantees are being offered only to
persons reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933, as amended
(the “Securities Act”), and non-U.S. persons outside the United
States pursuant to Regulation S under the Securities Act. The Notes
and the related guarantees have not been registered under the
Securities Act or any state securities laws and may not be offered
or sold in the United States absent an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act or any state securities
laws.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. This press release shall not constitute a
notice of redemption for the 2025 Notes.
About HASI
HASI (NYSE: HASI) is a leading climate positive investment firm
that actively partners with clients to deploy real assets that
facilitate the energy transition. With more than $12 billion in
managed assets, our vision is that every investment improves our
climate future.
Forward-Looking Statements
Some of the information in this press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. When used in this
press release, words such as “believe,” “expect,” “anticipate,”
“estimate,” “plan,” “continue,” “intend,” “should,” “may,”
“target,” or similar expressions are intended to identify such
forward-looking statements. Forward-looking statements are subject
to significant risks and uncertainties. Investors are cautioned
against placing undue reliance on such statements. Actual results
may differ materially from those set forth in the forward-looking
statements. Factors that could cause actual results to differ
materially from those described in the forward-looking statements
include those discussed under the caption “Risk Factors” included
in the Company’s Annual Report on Form 10-K (as supplemented by our
Form 10-K/A) for the Company’s fiscal year ended December 31, 2023,
which were filed with the U.S. Securities and Exchange Commission
(“SEC”), as well as in other reports that the Company files with
the SEC.
Forward-looking statements are based on beliefs, assumptions and
expectations as of the date of this press release. The Company
disclaims any obligation to publicly release the results of any
revisions to these forward-looking statements reflecting new
estimates, events or circumstances after the date of this press
release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240625066722/en/
Investors: Aaron Chew investors@hasi.com 240-343-7526
Media: Conor Fryer media@hasi.com 443-321-5754
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