Ormat Technologies plans USD 750 million convertible senior notes offering

Ormat Technologies, Inc.

Ormat Technologies, Inc.

ORA

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  • Ormat announced proposed private offerings of convertible senior notes totaling USD 750.0 million.
  • The issuance includes USD 600.0 million of Series A Convertible Senior Notes due 2031 and USD 150.0 million of Series B Convertible Senior Notes due 2031.
  • Initial purchasers are expected to have options to buy up to an additional USD 90.0 million of Series A notes and USD 22.5 million of Series B notes.
  • Proceeds are expected to be used in part to repurchase a portion of Ormat’s 2.50% convertible senior notes due 2027, along with USD 25.0 million of cash on hand.
  • Ormat also expects to use up to USD 25.0 million of net proceeds to repurchase shares in privately negotiated transactions.


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