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Hannon Armstrong prices USD-150m green bonds offering

Author: 401(K) 2012 on Flickr, CC BY-SA 2.0

September 11 (Renewables Now) - Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) has priced a private offering of notes that will raise a further USD 150 million (EUR 136m) in proceeds for the purchase or refinancing of eligible green projects.

The US climate change solutions investor is offering 5.25% senior unsecured notes due 2024, which, it says, meet the environmental eligibility criteria for green bonds. The issued financial instruments will form part of the same series as Hannon Armstrong’s existing 5.25% senior unsecured notes due 2024.

The company has priced the notes at 104.875% of the principal amount plus interest deemed to have accrued since July 2, 2019. The yield to maturity amounts to 4.13%, with a yield to worst of 3.86%. The settlement is expected on or about September 12, 2019.

Hannon Armstrong said that before fully spending the funds it will seek to pay back a portion of the outstanding revolving borrowings under two senior secured credit facilities. Any unused funds will be invested in interest-bearing accounts and short-term, interest-bearing securities.

(USD 1.0 = EUR 0.906)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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