Ormat gets consents for more than half of 8¼% notes

By Angela McDaniels

Seattle, May 25 - Ormat Funding Corp. has received consents from holders of more than 51% of its 8¼% senior secured notes due Dec. 30, 2020, according to a company news release.

Consents and waivers granted under the consent solicitation, which began on May 16 and ends at 5 p.m. ET on May 30, are no longer revocable.

The Reno, Nev.-based subsidiary of geothermal energy company Ormat Technologies, Inc. is seeking to waive provisions as they relate to certain operational matters in the note indenture.

Previously, the company said that it needed consents from holders of at least 51% of the notes to make the change and that holders of more than 55% of the notes had already agreed to deliver consents.

Lehman Brothers Inc. (800 438-3242 or call collect 212 528-7581) is the solicitation agent, and Union Bank of California, NA (775 823-5400 or 775 356-9029) is the tabulation and information agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.