HA Sustainable Infrastructure Capital, Inc. said it priced a registered public offering of $600 million of 7.125% green junior subordinated notes due 2056 on February 18, 2026.

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 18, 2026, it priced its registered public offering of $600 million in aggregate principal amount of 7.125% green junior subordinated notes due 2056 (the "Notes"). At issuance, the Notes will be guaranteed on a subordinated basis 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 February 27, 2026, subject to customary closing conditions.

The Company estimates that the net proceeds from the offering of the Notes will be approximately $592.2 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.

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