Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) prices its upsized offering of 3.75% senior unsecured notes due 2030 and $125M of 0% convertible senior notes due August 2023.
The 3.75% senior notes offering was increased to $375M from $350M.
Settlement of the senior unsecured notes is expected to occur on Aug. 25, 2020.
HASI believes the 2030 notes meet the environmental eligibility criteria for green bonds as defined by the International Capital Market Association’s Green Bond Principles.
Intends to utilize the net proceeds of the offering to acquire or refinance, in whole or in part, eligible green projects, which include assets that are neutral to negative on incremental carbon emissions.
For the convertible notes offering, HASI grants overallotment option for up to an additional $18.75M of convertible notes.
Initial conversion price equates to $48.36 per share.
