SEC Company Response from Hannon Armstrong Capital, — Aug 14, 2026
Hannon Armstrong Capital, LLC
Date: Aug. 14, 2026 · CIK: 0002031320 · Accession: 0001104659-26-097106
AI Filing Summary & Sentiment
File numbers found in text: 333-298187
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CORRESP
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HA Sustainable Infrastructure Capital, Inc.
One Park Place, Suite 200
Annapolis, Maryland 21401
August 14, 2026
VIA EDGAR
Division of Corporation Finance
Office of Real Estate & Construction
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, D.C. 20549
Attn: David Link
Re:
HA Sustainable Infrastructure Capital, Inc.
Registration Statement on Form S-4
File No. 333-298187
Filed August 10, 2026
Ladies and Gentlemen:
This letter is being sent
to you in connection with the above referenced Registration Statement filed by HA Sustainable Infrastructure Capital, Inc. (the “Company”)
and the subsidiary guarantors that are co-registrants named therein with the Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “Securities Act”), relating to the offer to exchange $1,000,000,000
aggregate principal amount of the Company’s 5.950% Green Senior Unsecured Notes due 2033 (together with the related guarantees,
the “Exchange Notes”) that will be registered under the Securities Act pursuant to the Registration Statement
for any and all of the Company’s 5.950% Green Senior Unsecured Notes due 2033 issued in a transaction exempt from registration under
the Securities Act on June 24, 2026 (together with the related guarantees, the “Original Notes”). The offer
to exchange is referred to as the “exchange offer.”
The Company is registering
the exchange offer in reliance on the position of the staff (the “Staff”) of the SEC enunciated in Exxon Capital
Holdings Corp., SEC No-Action Letter (May 13, 1988) (the “Exxon Capital Letter”), Morgan Stanley &
Co. Incorporated, SEC No-Action Letter (June 5, 1991) (the “Morgan Stanley Letter”), Shearman &
Sterling, SEC No-Action Letter (July 2, 1993) (the “Shearman & Sterling Letter”) and similar letters.
The Company further represents
that it has not entered into any arrangement or understanding with any person (including any broker-dealer) to distribute the Exchange
Notes to be received in the exchange offer and, to the best of the Company’s information and belief, each person (including any
broker-dealer) participating in the exchange offer will acquire the Exchange Notes in their ordinary course of business and will have
no arrangement or understanding with any person to participate in the distribution of the Exchange Notes to be received in the exchange
offer. In this regard, the Company is making each person (including any broker-dealer) participating in the exchange offer aware, through
the prospectus for the exchange offer or otherwise, that any securityholder using the exchange offer to participate in a distribution
of the Exchange Notes to be acquired in the registered exchange offer (a) cannot rely on the position of the Staff of the SEC enunciated
in the Exxon Capital Letter, Morgan Stanley Letter, Shearman & Sterling Letter or similar letters and (b) must comply with
the registration and prospectus delivery requirements of the Securities Act in connection with any secondary resale transaction. The Company
acknowledges that such a secondary resale transaction should be covered by an effective registration statement containing the selling
securityholder information required by Item 507 of Regulation S-K under the Securities Act.
In addition, the Company
will include in the transmittal letter or similar documentation a statement to the effect that, by accepting the exchange offer (a) an
exchange offeree that is not a broker-dealer represents to the Company that it is not engaged in, and does not intend to engage in, a
distribution of the Exchange Notes, and (b) an exchange offeree that is a broker-dealer holding Original Notes acquired for its own
account as a result of market-making activities or other trading activities, acknowledges that it will deliver a prospectus meeting the
requirements of the Securities Act in connection with any resale of Exchange Notes received in respect of such Original Notes pursuant
to the exchange offer. The transmittal letter or similar documentation will also include a statement to the effect that by so acknowledging
and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning
of the Securities Act.
The Company will commence
the exchange offer for the Original Notes after the Registration Statement is declared effective by the Staff of the SEC. The exchange
offer will remain in effect for a limited time and will be conducted by the Company in compliance with the applicable requirements of
the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC thereunder.
Please do not hesitate to
call Robert M. Worden, Esq., of Clifford Chance US LLP at (212) 878-4970 if you have any questions regarding this letter.
Very truly yours,
HA Sustainable Infrastructure Capital, Inc.
By:
/s/ Christy L. Freer
Name:
Christy
L. Freer
Title:
Senior Managing Director, Chief Legal Officer and Secretary
cc:
Andrew S. Epstein, Esq.
Robert M. Worden, Esq.
Clifford Chance US LLP