Hannon Armstrong Sustainable Infrastructure Capital Prices Upsized Add-On Private Offering Of $200M 8.00% Green Senior Unsecured Notes Due 2027
Portfolio Pulse from Benzinga Newsdesk
Hannon Armstrong Sustainable Infrastructure Capital (HASI) has upsized its private offering of green senior unsecured notes from $100 million to $200 million. The notes, due in 2027, have been priced at 102.75% with a yield to maturity of 7.08% and yield to worst of 7.02%. The offering is expected to close on January 12, 2024, with net proceeds estimated at $204.4 million after expenses.
January 10, 2024 | 6:51 am
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POSITIVE IMPACT
Hannon Armstrong's upsized offering of $200M in green senior unsecured notes indicates strong investor demand and may provide the company with additional capital for sustainable investments.
The upsizing of the offering suggests a positive market reception and investor confidence in HASI's creditworthiness and business model focused on sustainable infrastructure. The favorable terms and yield indicate a strong demand for HASI's debt, which could be seen as a positive sign by investors. The additional capital is likely to support the company's growth initiatives in sustainable infrastructure, potentially leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100