Ormat Funding gets consents for over 66% of 8¼% senior notes due 2020

By Toni Weeks

San Diego, Dec. 10 - Ormat Funding Corp. announced it received consents from holders representing more than 66% of the principal amount of the company's outstanding 8¼% senior secured notes due Dec. 30, 2020 by 5 p.m. ET on Dec. 7, the expiration date for Ormat's consent solicitation.

The company launched the consent solicitation on Dec. 3. Consents and related waivers may no longer be revoked.

Barclays was the solicitation agent. Union Bank, NA was the tabulation and information agent.

Ormat Funding is a wholly owned subsidiary of Ormat Technologies, Inc., a Reno, Nev.-based geothermal and recovered energy power business.

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