SEC Company Response from HA Sustainable Infrastructure Capital, Inc. (HASI) (CIK 0001561894) (HASI) — Apr 16, 2013
HA Sustainable Infrastructure Capital, Inc. (HASI) (CIK 0001561894)
Date: April 16, 2013 · CIK: 0001561894 · Accession: 0001193125-13-155803
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 333-186711
Letter
VIA EDGAR AND BY FEDERAL EXPRESS United States Securities and Exchange Commission Division of Corporation Finance Washington, D.C. 20549-0404 Re: Hannon Armstrong Sustainable Infrastructure Capital, Inc. Registration Statement on Form S-11 File No. 333-186711
Dear Ms. Monick:
On behalf of our client, Hannon Armstrong Sustainable Infrastructure Capital, Inc., a Maryland corporation (the “Company”), set forth below are the responses of the Company to our conversation on April 15, 2013 relating to the Company’s letter, which it submitted to the Staff of the Division of Corporation Finance of the Securities and Exchange Commission on April 12, 2013 (the “April 12 Letter”).
The Company attaches hereto: (1) the requested back up schedule to support the assertion in comment #7 of the April 12 Letter that Hannon Armstrong Capital, LLC’s retained interest in Hudson Ranch TE Holdings LLC was reduced to less than 3% and (2) the requested additional significance testing back up schedule related to Hudson Ranch TE Holdings LLC.
If you have any questions or comments regarding the foregoing, please contact the undersigned at 212-878-8527 or Andrew S. Epstein at 212-878-8332.
Sonia Gupta Barros, Esq.
Angela McHale, Esq.
United States Securities and Exchange Commission
April 16, 2013
Page 2
Very truly yours,
/s/ Jay L. Bernstein
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CORRESP 1 filename1.htm Correspondence April 16, 2013 VIA EDGAR AND BY FEDERAL EXPRESS Jennifer Monick United States Securities and Exchange Commission Division of Corporation Finance 100 F Street, N.E. Washington, D.C. 20549-0404 Re: Hannon Armstrong Sustainable Infrastructure Capital, Inc. Registration Statement on Form S-11 File No. 333-186711 Dear Ms. Monick: On behalf of our client, Hannon Armstrong Sustainable Infrastructure Capital, Inc., a Maryland corporation (the “Company”), set forth below are the responses of the Company to our conversation on April 15, 2013 relating to the Company’s letter, which it submitted to the Staff of the Division of Corporation Finance of the Securities and Exchange Commission on April 12, 2013 (the “April 12 Letter”). The Company attaches hereto: (1) the requested back up schedule to support the assertion in comment #7 of the April 12 Letter that Hannon Armstrong Capital, LLC’s retained interest in Hudson Ranch TE Holdings LLC was reduced to less than 3% and (2) the requested additional significance testing back up schedule related to Hudson Ranch TE Holdings LLC. If you have any questions or comments regarding the foregoing, please contact the undersigned at 212-878-8527 or Andrew S. Epstein at 212-878-8332. Sonia Gupta Barros, Esq. Angela McHale, Esq. United States Securities and Exchange Commission April 16, 2013 Page 2 Very truly yours, /s/ Jay L. Bernstein Jay L. Bernstein Enclosures cc: Securities and Exchange Commission Sonia Gupta Barros Angela McHale Kevin Woody Rochelle Plesset Hannon Armstrong Sustainable Infrastructure Capital, Inc. Jeffrey W. Eckel Steven L. Chuslo J. Brendan Herron Fried, Frank, Harris, Shriver & Jacobson LLP Paul D. Tropp Clifford Chance US LLP Andrew S. Epstein -2- The following calculations set for the computation of the significant asset, investment, and income tests for Hannon Armstrong Capital LLC’s (“HAC”) economic interest in Hudson Ranch TE Holdings LLC (“HRTE”) at September 30, 2012 Asset Test As of 9/30/2012 HRTE total assets $ 402,171,773 HAC interest in HRTE 1.43 % HAC’s proportionate share $ 5,764,938 HAC total assets $ 232,462,897 Percentage 2.5 % Greater than 20% No Investment Test As of 9/30/2012 Investment in HRTE $ — HAC interest in HRTE 1.43 % HAC’s proportionate share $ — HAC total assets $ 232,462,897 Percentage 0.0 % Greater than 20% No Income Test Year ended 9/30/2012 Income (loss) of HRTE $ (407,828 ) HAC interest in HRTE 1.43 % HAC’s proportionate share $ (5,846 ) Net income of HAC1 $ 3,804,466 Percentage -0.2 % Greater than 20% No 1 HAC net income, as adjusted for the HRTE loss would be $3,810,312 ($3,804,466 plus $5,846), which would not affect the conclusion of the income test. The following table sets forth the computation of the Hannon Armstrong Capital LLC (HAC) economic interest in Hudson Ranch TE Holdings LLC at September 30, 2012: HAC investment in EnergySource LLC (via HA EnergySource Holdings LLC) 40.20 % x EnergySource LLC investment in Hudson Ranch I Holdings, LLC 28.30 % x Hudson Ranch I Holdings, LLC investment in Hudson Ranch TE Holdings 12.60 % x Net Economic Interest 1.43 %