HASI Extends and Upsizes Bank Facilities To $1.625B, Further Strengthening Diversified Funding Platform
Portfolio Pulse from Benzinga Newsdesk
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) has successfully amended and extended its corporate unsecured credit facilities, increasing the total capacity to $1.625 billion. This expansion includes an increase in the CarbonCount-Based Revolving Credit Facility to $1.25 billion, maintaining the term loan at $250 million, and raising the CarbonCount Green Commercial Paper Note Program to $125 million. The extensions of these facilities aim to address upcoming 2025 maturities and enhance funding flexibility, with interest rate incentives linked to environmental performance metrics.
April 17, 2024 | 8:33 pm
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HASI has expanded and extended its credit facilities to $1.625 billion, enhancing its financial stability and capacity for future investments in climate solutions.
The extension and upsize of HASI's credit facilities directly impact its financial health by increasing its borrowing capacity and extending the maturity of its debts. This move likely signals to investors a stronger, more flexible financial position, potentially leading to positive investor sentiment and a favorable short-term impact on HASI's stock price. The unchanged interest rates and the inclusion of environmental performance metrics as a basis for interest rate reductions further align HASI with its sustainability goals, potentially attracting interest from ESG-focused investors.
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