Ormat Funding Corp. Announces Launch of Consent Solicitation Relating to the 8 1/4% Senior Secured Notes Due December 30, 2020 C
16 Maio 2007 - 4:46PM
PR Newswire (US)
RENO, Nev., May 16 /PRNewswire/ -- Ormat Funding Corp. (the
"Company"), a wholly owned subsidiary of Ormat Technologies, Inc.
(NYSE:ORA), announced today that it has launched a consent
solicitation relating to its 8 1/4% Senior Secured Notes due
December 30, 2020 (CUSIP No.: 686685AB4) (the "Consent
Solicitation"). The Consent Solicitation expires at 5:00 p.m., New
York time, on May 30, 2007, unless extended by the Company (the
"Expiration Date"). The Consent Solicitation is made upon the terms
and subject to the conditions set forth in the Consent Solicitation
Statement dated May 16, 2007, which is being mailed to all holders
of the Notes. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO) The
Consent Solicitation is being conducted in order to waive certain
provisions in the Indenture governing the Notes as they relate to
certain operational matters facing the Company. Receipt of valid
and not revoked written consents from holders of at least 51% of
the aggregate principal amount of outstanding Notes will constitute
acceptance of the consent solicitation whereupon the consent and
the waivers granted pursuant thereto shall be effective and
consents shall no longer be revocable, all as more fully described
in the Consent Solicitation Statement. Holders of Notes may
withdraw their consent at any time prior to the date on which
consents have been delivered and not validly revoked by holders of
at least 51% of the aggregate principal amount of the outstanding
Notes. Holders of approximately 55% of the aggregate principal
amount of the outstanding Notes have represented to the Issuer that
they will deliver, and not revoke, their consent to the Consent
Solicitation. The Company has retained Lehman Brothers Inc. as the
Solicitation Agent for the Consent Solicitation. Union Bank of
California, N.A., is the Tabulation and Information Agent for the
Consent Solicitation. Questions regarding the Consent Solicitation
may be directed to the Liability Management Group at Lehman
Brothers Inc. at 800-438-3242 (toll-free) or 212-528-7581
(collect). Requests for copies of the Consent Solicitation
documents may be directed to the Company at 775-356-9029. This
press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be
any sale of securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. Safe
Harbor Statement Information provided in this press release may
contain statements relating to current expectations, estimates,
forecasts and projections about future events that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally relate to Ormat Funding Corp's plans, objectives and
expectations for future operations and are based upon its
management's current estimates and projections of future results or
trends. Actual future results may differ materially from those
projected as a result of certain risks and uncertainties. These
forward-looking statements are made only as of the date hereof, and
we undertake no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events
or otherwise. Ormat Funding Corp. Paul Zavesov 1-775-356-9029
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO
http://photoarchive.ap.org/ DATASOURCE: Ormat Technologies, Inc.
CONTACT: Paul Zavesov of Ormat Funding Corp., +1-775-356-9029,
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