HA Sustainable Infrastructure Capital, Inc. 8-K

What Happened

• HA Sustainable Infrastructure Capital, Inc. announced on March 2, 2026 that it issued $400,000,000 aggregate principal amount of 6.000% Green Senior Unsecured Notes due March 15, 2036 (the “Notes”) under its indenture (Base Indenture dated June 24, 2025, as supplemented by an Officer’s Certificate dated March 2, 2026). The Notes bear interest at 6.000% payable semi‑annually on March 15 and September 15, beginning September 15, 2026, and are guaranteed at issuance by several existing affiliates (including Hannon Armstrong Sustainable Infrastructure, L.P., HAC, HAT I/II and HAC Holdings I/II). U.S. Bank Trust Company, N.A. is trustee.

Key Details

• Principal amount: $400,000,000; coupon: 6.000% per year; maturity: March 15, 2036.
• Use of proceeds: temporarily repay a portion of borrowings under the company’s unsecured revolving credit facility or commercial paper programs, or redeem all or part of its 8.00% Senior Notes due 2027; cash equal to net proceeds will be used to acquire, invest in or refinance eligible green projects (including projects with recent disbursements up to 12 months before issuance or within two years after issuance).
• Redemption and protections: change‑of‑control repurchase at 101% of principal plus accrued interest; optional redemption prior to Dec 15, 2035 at par plus a make‑whole premium, and at par on/after Dec 15, 2035.
• Priority: Notes are senior unsecured obligations, pari passu with other senior unsecured debt, subordinated to secured debt to the extent of collateral value; guarantors’ obligations are similarly structured.

Why It Matters

• The offering raises $400M of ten‑year financing that supports the company’s green investment strategy while providing flexibility to refinance short‑term debt or retire higher‑cost 2027 notes. For investors, the Notes increase senior unsecured debt on the balance sheet and may affect leverage and interest expense profile depending on how proceeds are deployed. The green designation signals that cash equal to net proceeds will be directed to eligible green projects, aligning financing with the company’s sustainability objectives.