HASI · HA Sustainable Infrastructure Capital, Inc.

Summary

HA Sustainable Infrastructure Capital, Inc. issued $600,000,000 aggregate principal amount of 7.125% Green Junior Subordinated Notes due 2056 under an indenture dated June 24, 2025, as supplemented on February 27, 2026. The net proceeds will be used to repay borrowings, redeem senior notes, and ultimately invest in eligible green projects.

Key takeaways

• Issued $600 million 7.125% Green Junior Subordinated Notes due November 15, 2056
• Interest fixed at 7.125% until November 15, 2031, then resets at 5-year U.S. Treasury Rate + 3.478% (floor 7.125%)
• Guaranteed by Hannon Armstrong Sustainable Infrastructure, L.P., Hannon Armstrong Capital, LLC, HAT Holdings I LLC, HAT Holdings II LLC, HAC Holdings I LLC, and HAC Holdings II LLC
• Company may defer interest payments for up to 10 years without triggering default
• Proceeds to repay revolving credit facility, commercial paper, or 8.00% Senior Notes due 2027, then fund green projects
• Optional redemption at 101% upon Change of Control, 100% after specified dates, 102% upon Rating Agency Event