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Convertibles Calendar: Ormat on tap
June 22
ORMAT TECHNOLOGIES INC.:
$350 million five-year green convertible notes
Greenshoe of $52.5 million
Coupon of 2.25% to 2.75% and initial conversion premium of 30% to 35%
Non-callable until July 21, 2025 and then subject to a 130% hurdle
Rule 144A
Barclays and J.P. Morgan Securities LLC
Fund the call spread, repurchase up to $25 million common stock in privately negotiated transactions, use $221.9 million to fund the prepayment of companys series 3 bonds with remaining proceeds for general corporate purposes
Reno, Nev.-based geothermal energy company
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