Hannon Armstrong talks $300 million five-year notes at 5½% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., June 26 – Hannon Armstrong Sustainable Infrastructure Capital Inc. talked its $300 million offering of green eligible five-year senior notes (BB+/BB+) to yield in the 5½% area, according to a syndicate source.

Books close at 3 p.m. ET on Wednesday, and the deal is set to price thereafter.

Wells Fargo Securities LLC is the left bookrunner. BofA Securities Inc. and J.P. Morgan Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon.

The Annapolis, Md.-based mortgage real estate investment trust plans to use the proceeds to pay down its existing secured borrowings and for general corporate purposes, including new investments in green eligible projects.

The issuing entities are HAT Holdings I LLC and HAT Holdings II LLC, indirect subsidiaries of Hannon Armstrong.

Hannon Armstrong invests in climate change solutions by providing capital to the leading companies in the energy efficiency, renewable energy and other sustainable infrastructure markets.

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