- CarbonCount Holdings 1 LLC to issue $592 million in 20-year fixed-rate senior unsecured notes.
- Notes priced at a weighted average coupon of 6.76% with maturity into 2045.
- Net proceeds of $586 million to boost investment in sustainable infrastructure projects.
CarbonCount Holdings 1 LLC ("CCH1"), a co-investment vehicle between HA Sustainable Infrastructure Capital, Inc. (HASI, Financial) (HASI) and KKR, has announced plans to issue $592 million in aggregate principal amount of senior unsecured notes. The fixed-rate amortizing notes will have a 20-year final maturity and were priced at a weighted average coupon of 6.76%.
Marc Pangburn, Chief Revenue and Strategy Officer at HASI, expressed enthusiasm for the expanded investment capacity that this issuance enables, highlighting the transaction as a testament to the low-risk profile of the underlying assets. Similarly, KKR's Managing Director, Cecilio Velasco, emphasized the strategic step-forward in accelerating the build-out of U.S. sustainable infrastructure.
After accounting for estimated offering expenses, net proceeds from the issuance are expected to be approximately $586 million. CCH1 plans to channel these proceeds into acquiring or investing in both new and existing sustainable infrastructure projects. Formed in May 2024, CCH1 had an initial capital commitment of up to $2 billion over 18 months, which has now been increased to $2.6 billion, with the investment period extended through November 2026.
The offering was accessible only to institutional accredited investors under U.S. securities regulations, and Morgan Stanley along with KKR Capital Markets served as the Joint Lead Placement Agents for the transaction.
