HASI Upsizes And Prices Private Offering Of $550M 8% Green Senior Unsecured Notes Due 2027, To Invest In Near-Term Opportunities At Attractive Yields
Portfolio Pulse from Benzinga Newsdesk
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) has upsized and priced a private offering of $550 million 8% green senior unsecured notes due 2027. The net proceeds are estimated to be approximately $543 million after initial purchasers' discounts, commissions, and estimated offering expenses. HASI plans to use the proceeds to invest in new and existing eligible green projects and for general corporate purposes.
December 05, 2023 | 7:01 am
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POSITIVE IMPACT
HASI has successfully priced a significant green bond offering, which may attract investors interested in sustainable projects. The high interest rate of 8% could indicate a strong demand for such investments or a higher perceived risk.
The successful pricing of the green bond offering is likely to be viewed positively by investors, as it provides HASI with additional capital to invest in green projects, which are increasingly in demand. The high interest rate may reflect market conditions or the company's credit profile, but it also offers an attractive yield to bond investors, which could support the company's stock price in the short term.
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