Hannon Armstrong Sustainable Infrastructure Capital, Inc. to Present at NYU Utility Industry of the Future Symposium, UBS Utilities and Natural Gas Conference and the 26th Annual Roth Conference
Annapolis, MD., March 3, 2014 — Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong,” “we,” “our,” or the “Company;” NYSE: HASI), a leading sustainable infrastructure investor, today announced that Jeff Eckel, President & CEO, will speak at New York University’s Symposium on the Utility Industry of the Future on Monday, March 3, 2014 at 1:30pm ET. Mr. Eckel, along with Hannon Armstrong’s Executive Vice President & CFO, Brendan Herron, will also attend the UBS Utilities and Natural Gas Conference to be held in Boston, MA at the Intercontinental Boston on Tuesday, March 4, 2014 and the 26th Annual Roth Capital Conference to be held in Dana Point, CA at The Ritz-Carlton on Tuesday, March 11, 2014 at 11:00am PT. Management will also hold one-on-one and small group meetings with institutional investors. Hannon Armstrong’s presentation at the 26th Annual Roth Meeting will be broadcast live over the internet and can be accessed through the Company’s website, www.hannonarmstrong.com.
To listen to the presentation, please go to the “Investors” tab of the Hannon Armstrong website at least 15 minutes prior to the start of the broadcast to register and download any necessary audio software. For those who are not able to listen to the live broadcast, a replay will be available shortly following the conference on the Hannon Armstrong website, and will be accessible for 90 days.
A copy of the presentation that the Company will use for upcoming investor meetings has been posted to its website under, “HASI Investor Relations Presentation.”
Hannon Armstrong Sustainable Infrastructure Capital, Inc. Announces 58% Increase in Core Earnings to $0.22 per share
ANNAPOLIS, Md., Feb. 27, 2014 /PRNewswire/ -- Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong," "we," "our," or the "Company;" NYSE: HASI), a leading sustainable infrastructure investor, today reported Core Earnings for the quarter ended December 31, 2013, of $0.22 per share and $0.43 per share for the year ended December 31, 2013. On a GAAP basis, the Company recorded a loss of $7.3 million or $(0.48) per share in the quarter after recording a provision for estimated credit losses on a mezzanine debt investment in a geothermal project. The provision totaling $11.0 million, or $0.69 per share, is excluded from Core Earnings and represents 1.7% of our 2013 originations.
"We accomplished a tremendous amount in 2013, including hitting our target yield of 7% on our IPO price, originating over $600 million of transactions, 96% of which are investment grade, and increasing our fixed rate debt to 56% of our total debt," said Chief Executive Officer Jeffrey Eckel. "While we are disappointed with the impairment charge, our portfolio remains very strong, our dividend strategy is intact, and we continue to expect to deliver 13-15% Core EPS and dividend growth from Q4 2013 to Q4 2014."
- Completed over $200 million of transactions in the fourth quarter
- Continued to add new clients that expand our origination platform in the distributed energy asset class
- Completed $100 million private placement of HASI Sustainable Yield BondTM ("HASI SYBs") with a 2.79% fixed rate and 6 year term, fixing the interest rate on 56% of our debt
- Diversified pipeline of investment opportunities remains in excess of $2.0 billion
- For the quarter, total revenue net of investment interest expense increased by 29% over Q3 2013
"Every quarter since the IPO, we have been impressed with the funding opportunities that are continuing to develop for HASI," said Mr. Eckel. "The accelerating trend in electric utility markets towards smaller scale distributed energy assets, such as energy efficiency, distributed solar and co-generation, plays to HASI's historic strengths and is producing high growth investment opportunities with both existing and new origination sources."
Hannon Armstrong Infrastructure Capital, Inc. Announces Fourth Quarter and Full Year 2013 Earnings Release Date and Conference Call
ANNAPOLIS, MD, February 21, 2014 -- Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong”) (NYSE: HASI), a leading provider of debt and equity for sustainable infrastructure projects, today announced that the Company will release its fourth quarter and full year 2013 results after the market close on Thursday, February 27, 2014, to be followed by a conference call at 5:00 p.m. (Eastern Time).
The conference call can be accessed live over the phone by dialing 1-877-407-0784, or for international callers, 1-201-689-8560. A replay will be available two hours after the call and can be accessed by dialing 1-877-870-5176, or for international callers, 1-858-384-5517. The passcode for the live call and the replay is 13575937. The replay will be available until March 6, 2014.
Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of the Company's website at www.hannonarmstrong.com. The on-line replay will be available for a limited time beginning immediately following the call.
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.
Hannon Armstrong Sustainable Infrastructure Capital Welcomes Sustainable Energy in America Factbook 2014
Natural Gas, Energy Efficiency and Renewable Energy Are Leading America's Energy Transformation
February 5, 2014 -- The 2014 installment of the Sustainable Energy in America Factbook, produced for The Business Council for Sustainable Energy by Bloomberg New Energy Finance, has found that renewable energy, natural gas and energy efficiency advancements are leading a transformation of America's energy.
Despite ever-shifting political winds, the inherent business case for efficient and sustainable energy sources has become even stronger over the past year. The 2014 Factbook documents the upward trajectory of energy efficiency, natural gas and renewable energy, using the latest data from 2013, and the edition adds yet another year of data to document the long-term transition to cleaner, lower-carbon sources of energy production.
Hannon Armstrong Sustainable Infrastructure is a proud sponsor of the 2014 Sustainable Energy in America Factbook.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. Announces 2013 Dividend Income Tax Treatment
ANNAPOLIS, Md., Jan 17, 2014 /PRNewswire/ Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong", “HASI” or the "Company;" NYSE: HASI), a leading provider of debt and equity for sustainable infrastructure projects, today announced the estimated Federal income tax treatment of the Company's 2013 distributions on its common stock (CUSIP # 41068X 100).
The Federal income tax classification of the aggregate $0.42 distribution per share on the Company's common stock with respect to the calendar year ended December 31, 2013 is:
As the Company’s aggregate distributions exceeded its taxable earnings and profits, the January 2014 distribution declared in the fourth quarter of 2013 and payable to shareholders of record as of December 30, 2013 will be treated as a 2014 distribution for Federal income tax purposes and is not included on the 2013 Form 1099. Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company's distributions.
Hannon Armstrong Welcomes Release of Green Bond Principles
ANNAPOLIS, MD., Jan 13, 2014 /PRNewswire/ -- Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong", “HASI” or the "Company;" NYSE: HASI), a leading provider of debt and equity for sustainable infrastructure projects, announced today that it will utilize the newly announced Green Bond Principles (“GBP”) for its HASI Sustainable Yield BondsTM. “The guidance these principles provide to issuers and investors alike will be of great value,” said Hannon Armstrong’s President & CEO, Jeffrey Eckel. “We have followed the four main principles of the GBP in our recent $100 million asset-backed Sustainable Yield BondTM (“HASI SYB), putting special emphasis on the 4th principle by a first-of-its-kind reporting on greenhouse gas (“GHG”) reductions per bond. Investors are increasingly interested in the environmental impact of their investments and we believe the GBP, combined with GHG metrics, represents a concrete step in that direction,” said Eckel.
The GBP were announced with the support of Bank of America Corporation, Citigroup Inc., Crédit Agricole CIB, JPMorgan Chase, BNP Paribas, Daiwa, Deutsche Bank, Goldman Sachs, HSBC, Mizuho, Morgan Stanley, Rabobank and SEB. In December 2013, Hannon Armstrong announced the placement of its HASI SYB 2013-1, which securitized the cash flows generated by over 100 individual wind, solar and energy efficiency installations. In addition, investors in HASI SYBs benefit from a quantitative assessment of the GHG impact of their investment, with an estimated annual GHG reduction of 0.61 metric tons per $1,000 bond.
HASI has financed over $4 billion of sustainable infrastructure projects primarily in the asset classes identified in the GBP and presently manages approximately $1.9 billion of sustainable infrastructure investments. “The next step in the reporting and disclosure process for all new issuances should be to include a defined metric of environmental impact, similar to what is provided by HASI SYBs,” continued Eckel. “Increasing the level of transparency, disclosure and integrity of all bonds will give investors valuable information on GHG impact to ensure their investment goals are in line with their environmental goals.”
Hannon Armstrong (HASI) Completes $100,000,000 Asset-Backed Securitization of 2.79% Sustainable Yield BondsTM
ANNAPOLIS, MD. – December 23, 2013 /PRNewswire/ Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong", “HASI” or the "Company;" NYSE: HASI) today announced the sale of $100,000,000 of its first series of asset-backed Sustainable Yield BondsTM (HASI SYBs).
"HASI continues to find new ways to finance sustainable infrastructure and we are delighted to have closed this fixed-rate transaction as part of our strategy to manage our interest rate exposure," said President and CEO Jeffrey Eckel. The transaction securitizes the cash flows generated by over 100 individual wind, solar and energy efficiency installations, all with investment grade obligors.
"This issuance represents an innovation in sustainable finance, as investors in these and future HASI SYB bonds benefit from a quantitative assessment of the greenhouse gas impact of each Series of HASI SYBs, measured in metric tons per $1,000 of par value,” continued Eckel. “For example, the assets underlying Series 2013-1 are estimated to reduce annual greenhouse gas emissions by 0.61 metric tons per $1,000 bond.”
“While not all ‘green bonds’ have a direct GHG impact, this rigorous attempt to estimate the GHG impact per bond is a welcome financial tool in the critical task of reducing greenhouse gas emissions,” said Sean Kidney, CEO of Climate Bonds Initiative, a not-for-profit working to mobilize capital markets to finance climate change solutions.
HASI SYB 2013-1 Highlights
- $100,000,000 private placement
- 2.79% coupon
- December 2019 maturity, secured by approximately $110 million of on-balance sheet assets
- Over 100 individual infrastructure installations, in over 20 properties
- Annual estimated reduction in greenhouse gas emissions of 61,036 metric tons or 0.61 metric tons per $1,000 of bond value
- In total the equivalent of taking approximately 12,700 cars off the road
“We expedited this transaction due to strong investor demand and favorable market conditions. This is also an important step toward the advancement of our plan to eventually issue publicly rated and traded debt and thus facilitate additional investment opportunities to invest in multiple layers of the capital stack supporting sustainable infrastructure,” said Eckel.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. Announces Annualized 7% Dividend or $0.22 per Share Quarterly Dividend --
Annapolis, MD – December 17, 2013 – Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong” or the “Company;” NYSE: HASI), a leading sustainable infrastructure investor, today announced that its Board of Directors declared a quarterly cash dividend of $0.22 per share of common stock, payable on January 10, 2014, to stockholders of record on December 30, 2013. This represents a 57% increase from the prior dividend of $0.14 which was announced in November, 2013.
Based upon the Company's common stock closing price of $12.50 per share on December 16, 2013, the dividend represents an annualized yield of 7%.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. Announces 133% Increase in Dividend to $0.14 per share on Third Quarter Core earnings of $0.14 per share --
Annapolis, MD – November 7, 2013 – Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong” or the “Company;” NYSE: HASI), a leading sustainable infrastructure investor, today reported financial results for the quarter ended September 30, 2013 and announced it will increase its dividend from $0.06 per share to $0.14 per share.
“We are pleased with our latest quarterly results as we continue to execute on our business model of financing sustainable infrastructure projects and delivering strong, risk adjusted returns to shareholders,” said Chief Executive Officer Jeffrey Eckel. “On an annualized basis, our new dividend represents approximately a 4.5% yield based on our current share price and we expect to achieve our targeted 7% yield by the end of the year.”