HASI Prices Offering of $1 Billion of Green Senior Unsecured Notes

HA Sustainable Infrastructure Capital, Inc. (“HASI,” “our,” “we,” or the “Company”) (NYSE: HASI), a leading investor in sustainable infrastructure assets, announced that yesterday, on June 12, 2025, it priced its registered public offering of $600.0 million in aggregate principal amount of 6.15% green senior unsecured notes due 2031 and $400.0 million in aggregate principal amount of 6.75% green senior unsecured notes due 2034. At issuance, the Notes will be guaranteed by Hannon Armstrong Sustainable Infrastructure, L.P., Hannon Armstrong Capital, LLC, HAT Holdings I LLC (“HAT I”), HAT Holdings II LLC (“HAT II” and together with HAT I, the “Offerors”), HAC Holdings I LLC and HAC Holdings II LLC. The settlement of the Notes is expected to occur on June 24, 2025, subject to customary closing conditions.

The Company estimates that the net proceeds from the offering of the Notes will be approximately $987.3 million, after deducting the underwriting discounts and estimated offering expenses. The Company intends to utilize the net proceeds from the offering of the Notes (i) to fund previously announced cash tender offers for a portion of the Offerors’ 3.375% Senior Notes due 2026 and a portion of the Offerors’ 8.00% Green Senior Unsecured Notes due 2027 that are accepted subject to the terms and conditions of such tender offers, and the payment of related accrued and unpaid interest, premiums, fees and expenses related thereto, (ii) to temporarily repay a portion of the outstanding borrowings under our unsecured revolving credit facility, or (iii) to temporarily repay a portion of the outstanding borrowings under our commercial paper program. We will use cash equal to the net proceeds from this offering to acquire, invest in or refinance, in whole or in part, new and/or existing eligible green projects. These eligible green projects may include projects with disbursements made during the twelve months preceding the issue date of this offering and projects with disbursements to be made within two years following the issue date. Prior to the full investment of an amount equal to such net proceeds in such eligible green projects, we intend to apply the net proceeds as set forth above and to invest any remaining net proceeds in interest-bearing accounts and short-term, interest-bearing securities.