HASI Increases Tender Offer to $700 Million

By Tamara Parker • Sunday, June 29 15:30 • Permanent Link

Hasi, a leading investor in sustainable infrastructure assets, has announced the early results of its tender offer to purchase outstanding notes. The company has also increased the maximum aggregate principal amount from $500 million to an amount sufficient to accept up to $700 million of the notes. Additionally, the series cap on the 3.375% senior notes due 2026 has been increased from $250 million to $400 million.

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& Co., Inc., a total of $920,279,000 in aggregate principal amount of the notes were validly tendered and not validly withdrawn as of the early tender deadline. The aggregate principal amount of each series of notes that were validly tendered and not validly withdrawn is as follows:

3.375% senior notes due 2026: $509,215,000
8.00% green senior unsecured notes due 2027: $411,064,000

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

The company will accept for purchase up to the maximum aggregate principal amount of notes validly tendered and not validly withdrawn, and holders of notes accepted for purchase will be eligible to receive the applicable total tender offer consideration, which includes an early tender premium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 early settlement date for the purchased notes is expected to be June 30, 2025. J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are the dealer managers for the tender offer, while D.F. King & Co., Inc. is the tender agent and information agent.

Hasi is an investor in sustainable infrastructure assets, with more than $14 billion in managed assets. The company's investments are diversified across multiple asset classes, including utility-scale solar, onshore wind, storage, distributed solar and storage, RNG, and energy efficiency. The market has reacted to these announcements by moving the company's shares -0.4% to a price of $27.66. For the full picture, make sure to review HA Sustainable Infrastructure Capital's 8-K report.

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