Ormat plans USD 750 million convertible senior notes offering

Reuters03-18

Ormat plans USD 750 million convertible senior notes offering

Ormat announced proposed private offerings of USD 600 million of Series A convertible senior notes due 2031 and USD 150 million of Series B convertible senior notes due 2031. The total proposed issuance is USD 750 million, excluding the option for initial purchasers to buy up to an additional USD 90 million of Series A notes and USD 22.5 million of Series B notes. Ormat said it plans to use part of the proceeds plus USD 25 million of cash on hand to repurchase a portion of its 2.5% convertible senior notes due 2027. The company also expects to use up to USD 25 million of proceeds to repurchase shares in privately negotiated transactions, with remaining proceeds for general corporate purposes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ormat Technologies Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202603171604PRIMZONEFULLFEED9673796) on March 17, 2026, and is solely responsible for the information contained therein.

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