debt
confidence high
sentiment neutral
materiality 0.55
Ormat Technologies issues $45.2M additional 2.50% convertible notes due 2027 to refinance debt
ORMAT TECHNOLOGIES, INC.
- Issued additional $45,187,000 of 2.50% Convertible Senior Notes due 2027.
- Notes mature July 15, 2027; bear 2.50% interest payable semiannually.
- Convertible into cash and/or shares at initial conversion price ~$90.27 per share.
- Net proceeds to refinance existing debt; notes rank senior unsecured.
- Additional Notes form single series with existing $431.25M notes from June 2022.