A registered public offering is when a company files required documents with regulators to sell new shares or bonds to the general public, providing standardized financial and business information for transparency. For investors, it matters because it creates an opportunity to buy newly issued securities while often increasing market liquidity, but it can also dilute existing ownership and affect share price as supply and company funding needs change—think of a bakery baking extra loaves that can satisfy more customers but slightly reduces each owner's slice of the original batch.
green senior unsecured notesfinancial
A green senior unsecured note is a loan-like bond a company issues to raise money specifically for environmentally friendly projects, such as renewable energy or pollution control. It ranks near the top for repayment if the issuer runs into financial trouble but is not backed by specific collateral, so investors rely on the issuer's overall credit; like lending to a well-regarded friend for a green home upgrade rather than a loan secured by the house. Investors care because these notes combine credit risk and repayment priority with the issuer’s environmental commitments, which can affect returns, regulatory disclosure, and appeal to socially minded buyers.
unsecured revolving credit facilityfinancial
A revolving credit facility is a line of borrowing that a company can draw from, repay, and draw again up to a set limit; “unsecured” means the loans are not backed by specific assets as collateral. Investors care because it acts like a corporate credit card—giving short‑term cash flexibility to cover operations or unexpected needs—while signaling lenders’ confidence and affecting interest costs, default risk, and the company’s financial stability.
commercial paper programsfinancial
A commercial paper program is an ongoing arrangement that lets a company sell short-term unsecured IOUs to borrow cash for everyday needs like payroll, inventory or short-term investments. Think of it as a corporate version of a short-term loan or a business credit card: it provides quick cash without a long-term bank loan. Investors watch these programs because they reveal a company’s short-term funding health, borrowing costs and credit risk, which can affect liquidity and near-term financial stability.
eligible green projectsfinancial
A set of projects, activities, or assets that meet predefined environmental criteria for using proceeds from green financing, such as renewable energy, energy efficiency, pollution control, or sustainable water systems. Think of it like an approved shopping list of eco-friendly investments that money raised under a green label must fund. Investors care because these criteria aim to reduce environmental risk, improve transparency, and align capital with sustainability goals—factors that can affect reputation, regulation, and long-term returns.
joint book-running managersfinancial
Joint book-running managers are the lead banks or financial firms responsible for organizing and overseeing the sale of a large financial offering, such as a company’s stock or bonds. They coordinate efforts to set the price, attract investors, and ensure the offering is successful. Their role is important to investors because they help ensure the offering is well-managed, properly priced, and accessible to a wide range of buyers.
co-managersfinancial
Co-managers are individuals or entities that share responsibility for overseeing and managing an investment or financial fund. They work together to make decisions about buying or selling assets, much like a team of leaders guiding a shared project. This collaborative approach can help ensure diverse expertise and perspectives, which may benefit investors by potentially improving the fund’s performance and risk management.
prospectus supplementregulatory
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
ANNAPOLIS, Md.--(BUSINESS WIRE)--
HA Sustainable Infrastructure Capital, Inc. (“HASI,” “our,” “we,” or the “Company”) (NYSE: HASI), a leading investor in sustainable infrastructure assets, announced that yesterday, on February 19, 2026, it priced its registered public offering of $400 million in aggregate principal amount of 6.000% green senior unsecured notes due 2036 (the “Notes”). At issuance, the Notes will be guaranteed by Hannon Armstrong Sustainable Infrastructure, L.P., Hannon Armstrong Capital, LLC, HAT Holdings I LLC, HAT Holdings II LLC, HAC Holdings I LLC and HAC Holdings II LLC. The settlement of the Notes is expected to occur on March 2, 2026, subject to customary closing conditions.
The Company estimates that the net proceeds from the offering of the Notes will be approximately $395.5 million, after deducting the underwriting discounts and estimated offering expenses. The Company intends to utilize the net proceeds from the offering of the Notes to (i) temporarily repay a portion of the outstanding borrowings under the Company’s unsecured revolving credit facility, (ii) temporarily repay a portion of the outstanding borrowings under the Company’s commercial paper programs or (iii) redeem all or a lesser amount of the outstanding principal amount of the Company’s 8.00% Senior Notes due 2027 (the “2027 Notes”) as described below. 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.
BofA Securities, Inc., Goldman Sachs & Co. LLC, Credit Agricole Securities (USA) Inc., Morgan Stanley & Co. LLC, Rabo Securities USA, Inc., SMBC Nikko Securities America, Inc., BMO Capital Markets Corp., Barclays Capital Inc., Citigroup Global Markets Inc., ING Financial Markets LLC, Natixis Securities Americas LLC, RBC Capital Markets, LLC, and Scotia Capital (USA) Inc. are acting as Joint Book-Running Managers for the offering. KeyBanc Capital Markets Inc. and M&T Securities, Inc. are acting as Co-Managers for the offering.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release shall not constitute a notice of redemption for the 2027 Notes.
The offering was made only by means of a prospectus and related prospectus supplement, which may be obtained by visiting the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, you may request these documents by calling BofA Securities, Inc. at +1 (800) 294-1322, or by email at dg.prospectus_requests@bofa.com; Goldman Sachs & Co. LLC, at +1 (866) 471-2526, or by email at prospectusny@ny.email.gs.com; Credit Agricole Securities (USA) Inc. at +1-866-807-6030; Morgan Stanley & Co. LLC, toll-free at 1-866-718-1649; Rabo Securities USA, Inc. at +1 (212) 808-2562; or SMBC Nikko Securities America, Inc. at +1 (888) 868-6856 or at email prospectus@smbcnikko-si.com.
About HASI
HASI is an investor in sustainable infrastructure assets advancing the energy transition. With more than $16 billion in managed assets, HASI’s investments are diversified across multiple asset classes, including utility-scale solar, onshore wind, and storage; distributed solar and storage; RNG; and energy efficiency. HASI combines deep expertise in energy markets and financial structuring with long-standing programmatic client partnerships to deliver superior risk-adjusted returns and measurable environmental benefits.
Forward-Looking Statements
Some of the information in this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, words such as “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may,” “target,” or similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption “Risk Factors” included in the Company’s Annual Report on Form 10-K for the Company’s fiscal year ended December 31, 2025, which were filed with the U.S. Securities and Exchange Commission (“SEC”), as well as in other reports that the Company files with the SEC.
Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. The Company disclaims any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.
