Ormat completes $1B convertible notes offering, retires $286M of 2027 debt

Filed March 23, 2026 · Period ending March 17, 2026 · ~1 min read

Key Changes

• high

  Raised $1 billion through convertible notes ($825M at 1.50%, $175M at 0%) due 2031, convertible at $140.40/share—representing 30% premium to current levels. Up to 9.3 million shares may be issued upon conversion.

  Item 1.01 verify on EDGAR →
• high

  Used $313M of proceeds plus 0.6M shares to retire $286M of 2027 Notes, reducing near-term debt from $477M to $191M and extending maturity profile by four years.

  Item 8.01 verify on EDGAR →
• medium

  Series B noteholders ($175M) can force repurchase at par on March 15, 2027, creating potential cash obligation in one year. Company cannot redeem notes before March 2029.

  Item 1.01 verify on EDGAR →