Ormat solicits consents for 8¼% notes due 2020

By Susanna Moon

Chicago, Oct. 16 - Ormat Funding Corp. said it began a consent solicitation for its 8¼% senior secured notes due Dec. 30, 2020.

The solicitation expires at 5 p.m. ET on Oct. 29.

Ormat said it is seeking consents to waive provisions as they relate to certain operational matters in the note indenture.

The solicitation requires consents from holders of at least 66% of the principal amount of outstanding notes.

Barclays Capital Inc. (800 438-3242 or collect at 212 528-7581) is the solicitation agent. Union Bank of California, NA is the tabulation and information agent.

The issuer is a Reno, Nev.-based subsidiary of geothermal energy company Ormat Technologies, Inc.

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