April 15 (Renewables Now) - Indirect units of Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) are preparing to issue senior unsecured notes due 2025, referred to as green bonds, with a total value of USD 350 million (EUR 322m).
The US climate change solutions investor, which provides capital to businesses in the renewable energy and other sustainable infrastructure markets, plans to use the proceeds from this private offering to acquire or refinance eligible green projects. These may include assets that are neutral to negative on incremental carbon emissions, the company noted.
Also, Hannon Armstrong will apply a portion of the proceeds to pay back some of the outstanding revolving borrowings under its two senior secured credit lines. The balance will go towards investments in interest-bearing accounts and short-term, interest-bearing securities.
The notes will be issued by indirect subsidiaries HAT Holdings I LLC and HAT Holdings II LLC and will be guaranteed by the company itself, Hannon Armstrong Sustainable Infrastructure LP and Hannon Armstrong Capital LLC.
(USD 1.0 = EUR 0.919)