HA Sustainable Infrastructure Capital, Inc. (HASI) announced on November 9, 2026, that it has entered into an underwriting agreement to issue $500 million in aggregate principal amount of 7.850% Green Junior Subordinated Notes due 2057. The notes are being sold at a public offering price of 100% of their principal amount.
The offering is being led by a syndicate of underwriters, including Mizuho Securities USA LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, and Truist Securities, Inc.
The notes are guaranteed on a subordinated basis by the Company and several affiliates, including Hannon Armstrong Sustainable Infrastructure, L.P., Hannon Armstrong Capital, LLC, and various HAT and HAC Holdings entities.
HA Sustainable Infrastructure Capital intends to use the net proceeds from the sale for several purposes. These include temporarily repaying portions of outstanding borrowings under its standalone commercial paper program, its unsecured credit facility, or its credit-enhanced commercial paper program. The Company states it will use cash equal to the net proceeds to acquire, invest in, or refinance eligible green projects. These projects may include those with disbursements made during the twelve months preceding the issue date or disbursements to be made within two years following the issue date.
Until the full investment of the net proceeds in eligible green projects is completed, the Company intends to apply the proceeds as described above and invest any remaining net proceeds in interest-bearing accounts and short-term, interest-bearing securities.
The sale of the Junior Subordinated Notes has been registered with the Securities and Exchange Commission in a registration statement on Form S-3ASR, File No. 333-285461. The closing of the offering is expected to occur on November 24, 2026, subject to customary closing conditions.
