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.
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Issue: | Senior secured notes
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Amount: | $92.5 million
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Maturity: | 2033
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Agent: | CIBC World Markets Corp.
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Coupon: | 4.03%
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Settlement date: | Nov. 30
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Rating: | Kroll: BBB-
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Distribution: | Private placement
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