Hannon Armstrong Sustainable Infrastructure Capital, Inc. Announces Closing of Senior Secured Credit Facility
ANNAPOLIS, Md., July 23, 2013 /PRNewswire/ -- Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong") (NYSE: HASI), a specialty finance company that provides debt and equity financing for sustainable infrastructure projects, today announced the closing of a senior secured credit facility with Bank of America Merrill Lynch . The credit facility can be used to finance as much as $700 million of projects on a revolving basis. Maximum borrowings at any point of time are $200 million for projects involving U.S. federal, state and local government and institutional obligors and $150 million for clean energy projects such as wind and solar projects.
"We are very pleased to have completed this important transaction. This facility is a key building block in our leverage strategy. In conjunction with the proceeds raised from our IPO in April 2013, this credit facility provides an expanded capacity to hold on-balance sheet transactions and supplements our existing securitization and syndications capabilities. We are continuing to execute transactions according to our plan by putting capital to work for sustainable infrastructure projects including energy efficiency, clean energy and other sustainable infrastructure projects," stated Jeffrey Eckel, Hannon Armstrong's CEO.
To learn more about Hannon Armstrong, please visit the company's Web site at www.hannonarmstrong.com. In addition to filing or furnishing required information to the U.S. Securities and Exchange Commission, Hannon Armstrong uses its Web site as a channel of distribution of material company information. Financial and other material information regarding Hannon Armstrong is routinely posted on the company's Web site and is readily accessible.
About Hannon Armstrong
Hannon Armstrong is a specialty finance company that provides debt and equity financing for sustainable infrastructure projects. We focus on profitable sustainable infrastructure projects that increase energy efficiency, provide cleaner energy sources, positively impact the environment or make more efficient use of natural resources. We began our business more than 30 years ago, and since 2000, using our direct origination platform, we have provided or arranged over $4.0 billion of financing in more than 450 sustainable infrastructure transactions. Hannon Armstrong focuses on projects that have high credit quality obligors, fully contracted revenue streams and inherent economic value.
Hannon Armstrong Sustainable Infrastructure Capital, Inc., based in Annapolis, MD, has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes.
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
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