Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) on Wednesday priced a private green bonds offering of USD 375 million (EUR 314m), upsizing it from an initially planned USD 350 million.
The US climate change solutions investor’s two indirect subsidiaries, HAT Holdings I LLC (HAT I) and HAT Holdings II LLC (HAT II), are offering 3.75% senior unsecured notes due 2030 that are guaranteed by the company, Hannon Armstrong Sustainable Infrastructure LP and Hannon Armstrong Capital LLC.
The settlement of the notes will occur on August 25. Hannon Armstrong expects them to be rated BB+ by Standard & Poor's Rating Services and Fitch Ratings.
The company plans to use the net proceeds to acquire or refinance eligible green projects, representing assets that are neutral to negative on incremental carbon emissions.
Separately, Hannon Armstrong priced a USD-125-million underwritten public offering of 0% convertible senior notes due August 2023. It granted a 30-day over-allotment option to the underwriters so they could buy up to an additional USD 18.75 million of these notes.
The offering of the convertible notes will close on or about August 21, 2021. Morgan Stanley serves as a sole book-running manager and Oppenheimer & Co Inc acts as a co-manager.
(USD 1.0 = EUR 0.838)
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