HASI boosts borrowing power to USD 1.625bn

US climate solutions investor Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) has increased its borrowing capacity to a total of USD 1.625 billion (EUR 1.52bn) by amending and extending the terms across three corporate unsecured credit facilities with a syndicate of banks.

The company, known as HASI, said that its revolving credit facility had increased to USD 1.25 billion from USD 915 million, with maturity extended by four years to 2028. A term loan, with an outstanding amount of USD 250 million, will mature three years later, in 2027. Lastly, a green commercial paper note programme increased to USD 125 million from USD 100 million, with its maturity extended by two years to 2026.

All these facilities offer lower interest rates if HASI performs well on its CarbonCount metric, which is a proprietary tool developed by the company to measure the environmental impact of its investments. The scoring tool determines how efficiently each dollar invested avoids carbon dioxide equivalent emissions annually.

“The upsize and term extension of our credit facilities simultaneously addresses a majority of our 2025 maturities and enhances the flexibility of our diversified funding platform,” said HASI CFO Marc Pangburn. “A well-balanced platform of bank borrowings, unsecured debt, and project debt allows us to maintain an opportunistic approach to debt financing.”

(USD 1.0 = EUR 0.937)

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