Hannon Armstrong guides $500 million green senior notes due June 2027 in low-to-mid 8% area

By Abigail W. Adams

Portland, Me., Dec. 4 – HAT Holdings I LLC and HAT Holdings II LLC plans to price $500 million of green senior notes due June 2027 (existing Baa3/BB+/BB+) on Tuesday with early guidance for a yield in the low-to-mid 8% area, according to market sources.

The notes are non-callable.

The notes are guaranteed by Hannon Armstrong Sustainable Infrastructure Capital Inc.

BofA Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, SMBC Nikko Securities America Inc. and Citigroup Global Markets Inc. are joint bookrunners for the Rule 144A and Regulation S offering.

There is an equity clawback of up to 40% and a 101 poison put.

Proceeds will be used to acquire, invest or refinance eligible green projects.

Hannon Armstrong is an Annapolis, Md.-based energy efficiency, renewable energy, and sustainable infrastructure investment company.

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