HASI · HA Sustainable Infrastructure Capital, Inc.

Summary

HA Sustainable Infrastructure Capital, Inc. commenced a registered offering of Green Junior Subordinated Notes on February 18, 2026, subject to market conditions, to lower its weighted average cost of capital, reduce future common stock issuances, and optimize return on equity. Proceeds will temporarily repay credit facility borrowings, commercial paper, or redeem 8.00% Senior Notes due 2027.

Key takeaways

• Commenced registered offering of Green Junior Subordinated Notes on February 18, 2026
• Notes expected to receive 50% equity credit from rating agencies
• Use of proceeds: repay portion of $1.825 billion unsecured credit facility
• Use of proceeds: repay commercial paper supported by $125 million letter of credit from Bank of America
• Guaranteed by Hannon Armstrong Sustainable Infrastructure, L.P. and other subsidiaries
• Managed Assets reached $16.1 billion as of December 31, 2025