HASI Upsizes Revolving Credit Facility to $840 Million, Increasing Liquidity to Fund Growth
01 Junho 2023 - 8:30AM
Business Wire
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
("HASI," "we", "our", or the "Company") (NYSE: HASI), a leading
investor in climate solutions, today announced that it has amended
its revolving credit facility effective immediately, increasing the
committed line under the revolving credit facility by $240 million
to $840 million. The amendment also expands the accordion feature
under the revolving credit facility by $420 million, resulting in
total capacity of up to $1.26 billion subject to certain terms and
conditions. The applicable margin remains unchanged at 1.875% for
Term SOFR Rate-based loans.
“This upsize along with our recent successful equity offering
will enable the continued growth of our portfolio,” said Marc
Pangburn, HASI Chief Financial Officer. “Our diversified funding
platform and strong relationships provide ongoing access to capital
to profitably invest in the energy transition.”
The bank group is led by JPMorgan Chase Bank, N.A. as
administrative agent, sustainability structuring agent, lead
arranger and bookrunner. Bank of America, N.A., Barclays Bank PLC,
Citibank, N.A., Morgan Stanley Bank, N.A., RBC Capital Markets,
Sumitomo Mitsui Banking Corporation and Wells Fargo Bank, N.A., are
documentation agents. The lead arranger and all documentation
agents are either joining the facility or increasing their
respective commitments as part of this amendment.
Fitch Ratings has also revised its outlook for the Company to
positive.
About HASI
HASI (NYSE: HASI) is a leading climate positive investment firm
that actively partners with clients to deploy real assets that
facilitate the energy transition. With more than $10 billion in
managed assets, our vision is that every investment improves our
climate future. For more information, please visit hasi.com.
Forward-Looking Statements
Some of the information in this press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. When used in this
press release, words such as "believe," "expect," "anticipate,"
"estimate," "plan," "continue," "intend," "should," "may,"
"target," or similar expressions, are intended to identify such
forward-looking statements. Forward-looking statements are subject
to significant risks and uncertainties. Investors are cautioned
against placing undue reliance on such statements. Forward-looking
statements are not predictions of future events. Actual results may
differ materially from those set forth in the forward-looking
statements. Factors that could cause actual results to differ
materially from those described in the forward-looking statements
include those discussed under the caption "Risk Factors" included
in the Company's Annual Report on Form 10-K (as supplemented by our
Form 10-K/A) for the Company's fiscal year ended December 31, 2022,
which was filed with the SEC, as well as in other reports that the
Company files with the SEC.
Forward-looking statements are based on beliefs, assumptions and
expectations as of the date of this press release. The Company
disclaims any obligation to publicly release the results of any
revisions to these forward-looking statements reflecting new
estimates, events or circumstances after the date of this press
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230601005642/en/
Investors: Neha Gaddam investors@hasi.com 410-571-6189 Media:
Gil Jenkins media@hasi.com 443-321-5753
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