- HA Sustainable Infrastructure Capital, Inc. (HASI, Financial) has successfully priced a $1 billion offering of green senior unsecured notes.
- The offering is split into $600 million of 6.15% notes due 2031 and $400 million of 6.75% notes due 2035.
- The proceeds will finance tender offers for existing debt and invest in green projects.
HA Sustainable Infrastructure Capital, Inc. (HASI), a prominent investor in sustainable infrastructure, announced the successful pricing of its $1 billion registered public offering of green senior unsecured notes on June 12, 2025. The offering comprises $600 million in notes with a 6.15% interest rate due in 2031, and $400 million in notes with a 6.75% interest rate due in 2035. The issuance of the notes is being supported by guarantees from several entities, including Hannon Armstrong Sustainable Infrastructure, L.P. and others.
The settlement of these notes is expected to take place on June 24, 2025, pending customary closing conditions. HASI anticipates net proceeds of approximately $987.3 million after deducting underwriting discounts and expenses. The company intends to utilize these proceeds to fund previously announced cash tender offers for a portion of its 3.375% Senior Notes due 2026 and 8.00% Green Senior Unsecured Notes due 2027. Additionally, HASI plans to temporarily repay outstanding borrowings from its revolving credit facility or commercial paper program.
In alignment with its sustainability goals, HASI will use cash equivalent to the net proceeds to acquire, invest in, or refinance eligible green projects. These projects include both new and existing initiatives, with disbursements having occurred within the last twelve months or set to occur within two years of the offering's issue date.
The offering is being managed by prominent financial institutions, with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, and others acting as Joint Book-Running Managers. The offering was conducted via a prospectus available through the Securities and Exchange Commission's website.
