Hannon Armstrong greenshoe lifts 4.125% convertibles to $150 million

By Wendy Van Sickle

Columbus, Ohio, Aug. 30 – Underwriters for Hannon Armstrong Sustainable Infrastructure Capital Inc.’s 4.125% five-year convertible senior notes fully exercised their $15 million over-allotment option on Wednesday, increasing the total deal size to $150 million, according to an 8-K filing with the Securities and Exchange Commission.

The company priced $135 million of the convertibles with a 20% initial conversion premium on Aug. 16.

Deutsche Bank Securities Inc., BofA Merrill Lynch and J.P. Morgan Securities LLC are the joint bookruners.

Conversions will be settled in common stock. The notes are convertible at any time.

The convertibles become redeemable on or after March 1, 2022 at par plus accrued interest and a make-whole premium.

Holders can put the paper upon a fundamental change.

The Annapolis, Md.-based real estate investment trust will contribute proceeds to its operating partnership, which will then use the funds to repay outstanding borrowings under one or both of the company’s credit facilities, or for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.