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UPDATE - Hannon Armstrong upsizes green bond offering to USD 400m

Dollars in green. Author: 401(K) 2012.

April 16 (Renewables Now) - Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) has upsized its previously announced senior unsecured notes offering to USD 400 million (EUR 367m) from USD 350 million.

The company’s indirect units, HAT Holdings I LLC and HAT Holdings II LLC, will issue 6.00% senior unsecured notes due 2025. Subject to customary closing conditions, the settlement of the notes is planned for April 21, 2020.

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.

(USD 1.0 = EUR 0.917)

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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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