Hannon Armstrong Sustainable sags on $350 mln green bond deal

HA Sustainable Infrastructure Capital

07/08/2023 18:57

** Hannon Armstrong Sustainable Infrastructure Capital's
 HASI.N  shares down 9.2% at $22.21, hit lowest levels since Oct
on Mon, as co looks to raise capital
    ** Renewable energy-focused REIT offering privately $350 mln
convertible bonds due 2028
    ** Co intends to use net offering proceeds to repurchase
certain of its zero coupon convertible bonds due 2023
    ** With ~107.27 mln shares outstanding, Hannon has ~$2.4 bln
market cap, per Refinitiv
    ** Stock off 23% YTD including move on Mon
    ** Avg rating among 8 analysts is "buy" and median PT is
$44.50 - Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))