HASI Tender Offer Results – $920M in Notes Tendered

By Bobby Samwell • Saturday, June 28 15:31 • Permanent Link

Hasi, a leading investor in sustainable infrastructure assets, has announced the early results of its tender offer to purchase its outstanding 3.375% senior notes due 2026 and 8.00% green senior unsecured notes due 2027. The company has also increased the maximum aggregate principal amount from $500,000,000 to $700,000,000 and raised the series cap on the 3.375% senior notes due 2026 from $250,000,000 to $400,000,000.

According to information provided by D.F. King & Co., Inc., a total of $920,279,000 in aggregate principal amount of the notes were validly tendered and not validly withdrawn as of the early tender deadline. The breakdown of the principal amount tendered for each series of notes is as follows:

For the 3.375% senior notes due 2026, $509,215,000 was tendered, with a proration factor of 78.58%.
For the 8.00% green senior unsecured notes due 2027, $411,064,000 was tendered, with a proration factor of 73.01%.

As the total aggregate principal amount of the notes validly tendered prior to the early tender deadline exceeds the $700,000,000 of notes to be accepted, the company does not expect to accept any further tenders of notes following the early tender deadline.

Holders of notes validly tendered and accepted for purchase will be eligible to receive the applicable total tender offer consideration, which includes an early tender premium of $30 per $1,000 principal amount of notes. The total tender offer consideration will be calculated by the dealer managers for the tender offer at 9:00 a.m., New York City time, on June 27, 2025. The early settlement date for the purchased notes is currently expected to be June 30, 2025.

The dealer managers for the tender offer are J.P. Morgan Securities LLC and Citigroup Global Markets Inc., with D.F. King & Co., Inc. serving as the tender agent and information agent.

Hasi, with over $14 billion in managed assets, is committed to advancing the energy transition by investing in sustainable infrastructure assets across multiple asset classes, including utility-scale solar, onshore wind, storage, distributed solar and storage, RNG, and energy efficiency. Following these announcements, the company's shares moved -0.4%, and are now trading at a price of $27.66. Check out the company's full 8-K submission here.

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