Hannon Armstrong Expands Facility with Bank of America
Clean energy investor Hannon Armstrong Sustainable Infrastructure Capital announced that it entered into an agreement with Bank of America to add an additional $450 million of borrowing capacity under its existing credit facility, to a total capacity of $1.35 billion, as well as extending the maturity by one year 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 CEO Jeffrey Eckel. “This expansion provides us additional capacity in support of our Sustainable Yield Bond ABS issuances planned for 2015.”
Annapolis, MD-based Hannon Armstrong makes debt and equity investments in clean energy projects.