Hannon Armstrong Sustainable Infrastructure Capital has announced a private placement of a securitization transaction consisting of US$125 million in aggregate principal amount of Sustainable Yield Bonds with an anticipated repayment date of July 20, 2040.
The bonds will be payable from, and secured by, certain assets on the company's balance sheet and will not be insured or guaranteed by the company or any other affiliate thereof, or by any other person or entity. Hannon Armstrong Capital, LLC, the operating subsidiary of the company, will act as servicer for the securitization.
The bonds have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Sales of bonds to institutional accredited investors who are also qualified purchasers will be made directly by the issuer.
Hannon Armstrong provides debt and equity financing to the energy efficiency and renewable energy markets. They focus on providing preferred or senior level capital to established sponsors and high credit quality obligors for assets that generate long-term, recurring and predictable cash flows. They are based in Annapolis, Maryland.