Hannon Armstrong driving by with $350 million five-year notes; initial talk mid-to-high 6% area

By Paul A. Harris

Portland, Ore., April 15 – Hannon Armstrong Sustainable Infrastructure Capital, Inc. plans to price a $350 million offering of five-year senior notes (BB+) in a Wednesday drive-by, according to market sources.

Initial talk has the notes coming to yield in the mid-to-high 6% area.

The company asserted in a Tuesday press release that it believes the offer qualifies as a “green bond” deal, according to the International Capital Market Association’s green bond principles.

J.P. Morgan Securities LLC is leading the offering.

The notes come with two years of call protection.

The issuing entities will be indirect subsidiaries HAT Holdings I LLC and HAT Holdings II LLC.

The Annapolis, Md.-based renewable power and energy efficiency investor plans to use the proceeds to acquire or refinance eligible green projects. Prior that investment the company intends to use the proceeds pay down revolver borrowings under its two senior secured credit facilities, which may be re-borrowed.

© 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.