Business Wire·Nov 14, 2025, 7:00 AM ET

HASI Prices Offering of $500 Million of Green Junior Subordinated Notes

HASI

HA Sustainable Infrastructure Capital, Inc. (HASI) priced a $500 million registered public offering of 8.000% green junior subordinated notes due 2056 on November 13, 2025.
The notes will be subordinatedly guaranteed by Hannon Armstrong Sustainable Infrastructure, L.P., Hannon Armstrong Capital, LLC, HAT Holdings I LLC, HAT Holdings II LLC, HAC Holdings I LLC, \& HAC Holdings II LLC.
Settlement of the notes is expected to occur on November 20, 2025, subject to customary closing conditions.
Net proceeds are estimated at approximately $493.3 million after deducting underwriting discounts \& offering expenses.
HASI intends to temporarily utilize net proceeds to repay borrowings under its unsecured revolving credit facility or commercial paper programs.
Cash equal to the net proceeds will be used to acquire, invest in, or refinance eligible green projects with disbursements made in the 12 months preceding the issue date or within two years following it.
Until fully invested in eligible green projects, HASI plans to apply net proceeds to repay borrowings \& invest remaining funds in interest-bearing accounts \& short-term securities.
Mizuho Securities USA LLC, J.P. Morgan Securities LLC, BofA Securities, Inc., Truist Securities, Inc., Barclays Capital Inc., Credit Agricole, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Rabo Securities USA, Inc., \& SMBC Nikko Securities America are acting as Joint Book-Running Managers.
KeyBanc Capital Markets Inc. \& M&T Securities, Inc. are acting as Co-Managers for the offering.
The offering was made via a prospectus available through the SEC website or by contacting the specified lead managers.
HASI manages over $15 billion in diversified sustainable infrastructure assets including utility-scale solar, onshore wind, storage, RNG, \& energy efficiency.