Hannon Armstrong to sell $350 million 10-year green bonds on Tuesday; initial talk low 4% area

By Paul A. Harris

Portland, Ore., Aug. 18 – Hannon Armstrong Co. plans to price a $350 million offering of 10-year senior green notes (existing ratings BB+/BB+) in a Tuesday drive-by following a mid-morning conference call with investors, according to market sources.

Initial price talk has the bullet notes coming to yield in the low 4% area.

Bookrunner Morgan Stanley & Co. LLC will bill and deliver.

The Annapolis, Md. based company plans to use proceeds from the Rule 144A and Regulation S for life deal to acquire or refinance, in whole or in part, eligible green projects, which include assets that are neutral to negative on incremental carbon emissions.

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

Hannon Armstrong is an investor in climate change solutions and provider of capital to companies in the energy efficiency, renewable energy and other sustainable infrastructure markets.

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