HASI Successfully Prices Offering of $300 Million Green Notes

HASI Prices New Green Senior Unsecured Notes Offering

HA Sustainable Infrastructure Capital, Inc. (“HASI” or the “Company”) (NYSE: HASI), recognized as a prominent investor in climate solutions, recently made headlines by announcing its new offering of $300 million in green senior unsecured notes. These notes, featuring a fixed interest rate of 6.375%, are set to mature in 2034.

Details of the Offering

The Company has structured these notes as additional offerings, joining the existing class of HASI’s green senior unsecured notes due in 2034. Upon issuance, these notes will be backed by various affiliates, ensuring security and reliability for potential investors. The anticipated settlement date for the notes is expected shortly after, following standard closing procedures.

Projecting the proceeds from this offering, HASI estimates that it will net around $297 million after accounting for necessary deductions. This capital will primarily be utilized to alleviate some of the outstanding outlays under its unsecured credit facility and to refinance segments of its commercial paper program. This strategic funding will be essential in propelling the company's broader objectives.

Utilization of Proceeds

The net proceeds will not only contribute to current financial obligations but will also be dedicated towards investing in green infrastructure projects. These projects range in scope and may include initiatives where funds were allocated in the twelve months before the issuance of the notes, or those projected to receive funding over the next two years. Before fully deploying these funds, the Company plans to keep them in interest-bearing accounts, thereby maximizing capital efficiency while temporarily servicing its debts.

Qualified Buyer Restrictions

The new notes, along with their associated guarantees, are exclusively available to qualified institutional buyers, consistent with Rule 144A of the Securities Act. Additionally, these notes cater to non-U.S. persons outside the United States under Regulation S provisions. It is essential to note that the notes and related guarantees have yet to be registered under the Securities Act, limiting their sale and offering to specific conditions.

About HASI: Driving Climate Solutions Forward

HASI stands out as an innovative and climate-positive investment firm. With a substantial portfolio exceeding $13 billion in managed assets, the company effectively collaborates with clients to promote the transition towards renewable energy. The commitment to ensuring that every investment enhances our climate's future underpins HASI’s operations.

Why Green Financing Matters

In today’s rapidly changing climate, green financing plays a crucial role in enabling organizations to meet their sustainability goals. By directing capital toward renewable energy and infrastructure projects, firms like HASI are not only promoting economic growth but also contributing positively to our environment. This initiative sets a precedent for other companies to follow, emphasizing the importance of responsible investment.

Future Outlook

As the demand for sustainable practices continues to rise, the role of green financing becomes increasingly vital. HASI's proactive approach emphasizes the importance of transforming investments into tangible green solutions that benefit society at large. Investors looking towards environmentally-conscious companies will certainly find HASI's initiatives appealing.

Frequently Asked Questions

What is the purpose of HASI's new green notes offering?

The offering aims to raise funds to refinance existing borrowings and invest in eligible green projects.

What interest rate is associated with these green notes?

The notes carry an interest rate of 6.375%, providing a fixed return for investors.

Who can invest in these green unsecured notes?

Only qualified institutional buyers and certain non-U.S. persons are eligible to purchase these notes.

What does HASI plan to do with the proceeds from the offering?

HASI intends to use the proceeds primarily to repay outstanding debts and invest in green infrastructure projects.

How does HASI contribute to sustainability?

HASI focuses on real asset investments that drive the energy transition, promoting a positive impact on the climate.

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