Hannon Armstrong Announces Add-On Offering of $100 Million of Senior Unsecured Notes
September 10 2019 - 6:58AM
Business Wire
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
(“Hannon Armstrong” or the “Company”) (NYSE: HASI), a leading
investor in climate change solutions, today announced, subject to
market conditions, a private offering of $100 million in aggregate
principal amount of 5.25% senior unsecured notes due 2024 (the
“Notes”) by its indirect subsidiaries, HAT Holdings I LLC (“HAT I”)
and HAT Holdings II LLC (“HAT II,” and together with HAT I, the
“Issuers”). The Notes will be additional notes and form part of the
same series as the Company's existing 5.25% senior unsecured notes
due 2024. At issuance, the Notes will be guaranteed by the Company,
Hannon Armstrong Sustainable Infrastructure, L.P., and Hannon
Armstrong Capital, LLC.
The Company believes the Notes meet the environmental
eligibility criteria for green bonds as defined by the
International Capital Market Association’s Green Bond Principles.
The Company intends to utilize the net proceeds of this offering to
acquire or refinance, in whole or in part, eligible green projects,
which include assets that are neutral to negative on incremental
carbon emissions. In addition, these projects may include projects
with disbursements made during the twelve months preceding the
issue date of the bonds and those with disbursements to be made
following the issue date. Prior to the full investment of such net
proceeds, the Company intends to apply the proceeds to repay a
portion of the outstanding revolving borrowings under the Company’s
two senior secured credit facilities. For any net proceeds from the
offering not used to repay these credit facilities, the Company
intends to invest such net proceeds in interest-bearing accounts
and short-term, interest-bearing securities which are consistent
with the Company's intention to continue to qualify for taxation as
a REIT.
The Notes and the related guarantees will be 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 will not be 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.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) focuses on making investments in
climate change solutions by providing capital to the leading
companies in the energy efficiency, renewable energy and other
sustainable infrastructure markets. Our goal is to generate
attractive returns for our stockholders by investing in a
diversified portfolio of investments that generate long-term,
recurring and predictable cash flows from proven commercial
technologies. Based in Annapolis, Maryland, Hannon Armstrong is
proud to be the first U.S. public company solely dedicated to
investments that reduce carbon emissions or increase resilience to
climate change.
Forward-Looking Statements
Some of the information in this press release contains
forward-looking statements and 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 for the Company’s
fiscal year ended December 31, 2018, which was 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/20190910005596/en/
INVESTOR RELATIONS INQUIRIES Chad Reed
Investors@hannonarmstrong.com 410-571-6189
HA Sustainable Infrastru... (NYSE:HASI)
Historical Stock Chart
From Jul 2024 to Aug 2024
HA Sustainable Infrastru... (NYSE:HASI)
Historical Stock Chart
From Aug 2023 to Aug 2024