HASI (NYSE: HASI) swaps 8% 2027 notes for longer-term green bonds

Rhea-AI Filing Summary

HA Sustainable Infrastructure Capital, Inc. announced that it has redeemed all $450 million outstanding principal amount of its 8.000% senior notes due 2027.

The company funded this redemption using a portion of the proceeds from its recent issuances of $600 million of 7.125% green junior subordinated notes due 2056 and $400 million of 6.000% green senior unsecured notes due 2036, replacing higher-cost, shorter-maturity debt with longer-term green financing.

Positive

• Refinancing of high-cost debt: The company redeemed $450 million of 8.000% senior notes due 2027 using proceeds from new 7.125% 2056 and 6.000% 2036 green notes, which lowers the coupon on this portion of debt and extends maturities.

Negative

• None.

Insights

Credit and Capital Structure Analyst

HASI refinances 8% 2027 notes with lower-coupon, longer-term green debt.

HA Sustainable Infrastructure Capital, Inc. fully redeemed $450 million of its 8.000% senior notes due 2027. The redemption was funded from proceeds of two recent green note issuances totaling $1.0 billion at coupons of 7.125% and 6.000% with maturities in 2056 and 2036.

This transaction replaces higher-coupon, nearer-term debt with lower-coupon, longer-dated instruments. That can reduce ongoing interest expense relative to the redeemed notes and pushes out significant maturities, which may strengthen the company’s liability profile.

Investors can look to future periodic reports for details on total debt levels, interest costs, and how this green financing mix supports the company’s sustainable infrastructure investment strategy over the terms to 2036 and 2056.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)

March 3, 2026

HA SUSTAINABLE INFRASTRUCTURE CAPITAL, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware		001-35877		46-1347456
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

One Park Place, Suite 200

Annapolis, Maryland 21401

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (410) 571-9860

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value per share		HASI		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On March 3, 2026, HA Sustainable Infrastructure Capital, Inc. (the “Company”) utilized a portion of the proceeds received from its recent issuances of $600 million aggregate principal amount of 7.125% green junior subordinated notes due 2056 and $400 million aggregate principal amount of 6.000% green senior unsecured notes due 2036 to redeem all $450 million outstanding principal amount of the Company’s 8.000% senior notes due 2027.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				HA SUSTAINABLE INFRASTRUCTURE CAPITAL, INC.
Dated: March 3, 2026				By:		/s/ Steven L. Chuslo
						Steven L. Chuslo
						Executive Vice President and Chief Legal Officer

FAQ

What debt transaction did HASI report in this 8-K?

HA Sustainable Infrastructure Capital, Inc. redeemed all $450 million of its 8.000% senior notes due 2027. The company used proceeds from recently issued green notes to complete this full principal redemption.

How did HASI fund the redemption of its 8.000% 2027 notes?

The redemption was funded using a portion of proceeds from two recent green note issuances: $600 million of 7.125% green junior subordinated notes due 2056 and $400 million of 6.000% green senior unsecured notes due 2036.

What are the key terms of HASI’s new green notes mentioned?

HASI recently issued $600 million of 7.125% green junior subordinated notes maturing in 2056 and $400 million of 6.000% green senior unsecured notes maturing in 2036. These longer-term notes partially funded the redemption of the 8.000% 2027 notes.

How does this debt move affect HASI’s interest costs?

The company redeemed 8.000% senior notes using proceeds from new notes carrying 7.125% and 6.000% coupons. Replacing 8.000% debt with lower-coupon instruments suggests reduced interest expense on that $450 million principal portion.

What maturities does HASI have after this refinancing step?

After this transaction, HASI has green junior subordinated notes due 2056 at 7.125% and green senior unsecured notes due 2036 at 6.000%. These longer maturities replace the redeemed 8.000% senior notes that were previously due in 2027.

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 17.6 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.0 KB