Hannon Armstrong Sustainable Infrastructure Capital, a specialty finance company, 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.
Hannon Armstrong is a specialty finance company that provides debt and equity financing for sustainable infrastructure projects.