By Devika Patel
Knoxville, Tenn., Nov. 30 – Ormat Technologies, Inc. said it completed a $92.5 million private placement of 4.03% senior secured notes due 2033. CIBC World Markets Corp. was the agent.
The notes were assigned an investment-grade rating of BBB- by Kroll Bond Rating Agency.
Proceeds will be used to refinance the costs of development and construction of the Don A. Campbell Phase I (DAC 1) geothermal power plant.
Ormat is a Reno, Nev., geothermal and recovered energy power company.
| Issuer: | Solar Capital Ltd.
|
| Issue: | Senior secured notes
|
| Amount: | $92.5 million
|
| Maturity: | 2033
|
| Agent: | CIBC World Markets Corp.
|
| Coupon: | 4.03%
|
| Settlement date: | Nov. 30
|
| Rating: | Kroll: BBB-
|
| Distribution: | Private placement
|
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