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Convertibles Calendar: Hannon Armstrong plans deal
On The Horizon
APOLLO COMMERCIAL REAL ESTATE FINANCE INC.
$200 million convertible senior notes due 2022
Price talk 4.25%-4.75% yield, up 10%-15%
Morgan Stanley & Co. LLC, BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (joint bookrunning managers)
$30 million greenshoe
Non-callable for life
Proceeds to acquire or originate its target assets, which include commercial first mortgage loans, subordinate financings, commercial mortgage backed securities and other commercial real estate-related debt investments, and for working capital and other general corporate purposes
New York-based real estate investment trust
HANNON ARMSTRONG SUSTAINABLE INFRASTRUCTURE CAPITAL INC.
$135 million convertible senior notes due 2022
Price talk 3.625%-4.125% yield, up 20%-25%
Deutsche Bank Securities Inc., BofA Merrill Lynch and J.P. Morgan Securities LLC (joint bookrunning managers)
$15 million greenshoe
Redeemable March 1, 2022
Proceeds will be contributed to its operating partnership, which will then use the funds to repay outstanding borrowings under one or both of the companys credit facilities, or for general corporate purposes.
New York-based real estate investment trust
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