10.2.2005: Meldung: Ormat Funding Corp. Announces Exchange Offer
Ormat Funding Corp., a wholly- owned subsidiary of Ormat Technologies, Inc., is pleased to announce that it commenced today its offer to exchange $1,000 principal amount of its 8 1/4% Senior Secured Notes due 2020, which have been registered under the Securities Act of 1933, as amended (the "Securities Act"), for each $1,000 principal amount of its outstanding 8 1/4% Senior Secured Notes due 2020 (the "Private Notes"). $190,000,000 in aggregate principal amount of the Private Notes was issued on February 13, 2004 in a private placement pursuant to Rule 144A and Regulation S of the Securities Act. $189,488,618 in aggregate principal amount of the Private Notes is currently outstanding.
A registration statement on Form S-4 relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. The exchange offer will remain open until the expiration date of March 11, 2005, 5:00 p.m. New York City time, or a later date and time if extended by the Company.
About Ormat Funding Corp.
Ormat Funding Corp., a wholly-owned subsidiary of the vertically- integrated company Ormat Technologies, Inc., is primarily engaged in the geothermal power business. The Company was formed to develop, construct, own, and acquire through certain direct and indirect subsidiaries geothermal power projects in the United States. Founded in 2001, the Company currently wholly- owns four geothermal power projects and a 50% interest in a fifth geothermal power project.
Source: Ormat Technologies, Inc.