Hannon Armstrong wraps $84 million 4.35% 20-year bonds; Chugach sells $40 million at 3.43%

By Devika Patel

Knoxville, Tenn., March 27 – The week opened with two private placements announced: Annapolis, Md., specialty finance company Hannon Armstrong Sustainable Infrastructure Capital, Inc. reported that an indirect subsidiary has settled an $84 million offering of sustainable yield bonds, and Anchorage-based electric utility Chugach Electric Association, Inc. completed a $40 million private placement of 3.43% 20-year 2017 series A first mortgage bonds.

The 4.35% 20-year Hannon Armstrong bonds were sold at par. They have a CarbonCount score of 0.27 metric tons of greenhouse gas per $1,000 and a Green Bond Assessment of GB1- from Moody's.

The deal’s proceeds financed efficiency and solar assets in more than 90 public schools and more than 20 local government properties across four different states.

Interest on the Chugach notes will be payable semiannually. The bonds will pay principal in equal installments on an annual basis beginning March 15, 2018, resulting in an average life of about 10 years

Proceeds were used for general corporate purposes.

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