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Ormat receives consents to amend 8¼% notes
New York, April 26 - Ormat Funding Corp. said it received the consents need to amend its 8¼% senior secured notes due Dec. 30, 2020.
Holders of more than 51% of the securities agreed to the changes by the deadline of 5 p.m. ET on April 26.
The Reno, Nev.-based subsidiary of geothermal energy company Ormat Technologies, Inc. had been seeking to amend and/or waive some of the public reporting and information requirements in the note indenture.
Holders of more than 47% of the notes had agreed to deliver consents before the solicitation started on April 17. Ormat needed consents from holders of at least 51% of the notes to make the change.
Lehman Brothers Inc. is the solicitation agent for the consent solicitation (800 438-3242 or 212 528-7581). Union Bank of California, NA is the tabulation and information agent (775 823-5400 or 775 356-9029).
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