ANNAPOLIS, Md., Dec. 22, 2014 /PRNewswire/ -- Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong;"NYSE: HASI), a clean energy investor, today announced that it entered into an agreement with Bank of America, N.A. to add one year to the term and add an additional $450 million of borrowing capacity under its existing credit facility, to a total capacity of $1.35 billion.
The revised terms extend the expiration date of the facility to July 2019. The maximum amount outstanding at any one point of time is $450 million, with $325 million for the project finance facility and $125 million for the G&I facility.
"As the velocity of our business increases, our financing sources need to keep pace," said Chief Executive Officer Jeffrey Eckel. "This expansion provides us additional capacity in support of our Sustainable YieldSM Bond ABS issuances planned for 2015."
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) makes debt and equity investments in clean energy projects. The Company focuses on profitable projects that increase energy efficiency, provide cleaner energy, positively impact the environment or make more efficient use of natural resources. Hannon Armstrong targets projects that have high credit quality obligors, contracted revenue streams and inherent economic value. The Company, based in Annapolis, MD, elected and qualified to be taxed as a real estate investment trust (REIT) for federal income-tax purposes beginning with its taxable year ended Dec. 31, 2013.
Forward Looking Statements
Some of the information in this press release contains forward-looking statements and 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 our Annual Report on Form 10-K for our fiscal year ended December 31, 2013, which was filed with the U.S. Securities and Exchange Commission (SEC), as well as in other reports that we file with the SEC.
Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim 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.
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SOURCE Hannon Armstrong
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