OrCal Geothermal Inc. Announces Extension of Consent Solicitation
RENO, Nev., Dec. 20, 2012 /PRNewswire/ -- OrCal
Geothermal Inc. (the "Company"), a wholly owned subsidiary of Ormat
Technologies, Inc. (NYSE: ORA), announced today that it has
extended the expiration date of its previously announced consent
solicitation, launched on December 3,
2012, relating to its 6.21% Senior Secured Notes due
December 30, 2020 (CUSIP Number:
68557DAA3) (the "Notes").
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The consent solicitation will now expire at 12:00 p.m., New
York time, on December 21,
2012, unless further extended by the Company.
Except as set forth herein, the consent solicitation is made
upon the same terms and subject to the same conditions as set forth
in the Consent Solicitation Statement dated December 3, 2012, which has been sent to all
holders of the Notes. All holders of the Notes who have previously
delivered a consent do not need to redeliver such consents or take
any other action.
The consent solicitation is being conducted in order to waive
certain provisions in the indenture governing the Notes. Receipt of
valid and not revoked written consents from holders of at least 66
2/3% 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 the
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 66 2/3% of the aggregate principal amount of
the outstanding Notes.
The Company has retained Barclays Capital Inc. as the
Solicitation Agent for the consent solicitation. Union Bank,
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 Barclays Capital 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
Tabulation and Information Agent at 415-273-2518 or the Company at
775-771-6801.
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 solicitation of consent in any state in which such solicitation
or the acceptance thereof would be unlawful.
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 OrCal Geothermal
Inc.'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. For a discussion of such risks and uncertainties,
see "Risk Factors" as described in Ormat Technologies, Inc.'s
Annual Report on Form 10-K filed with the Securities and Exchange
Commission on February 29, 2012 and
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission on November 8,
2012.
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.
OrCal Geothermal Inc.
Smadar Lavi1-775-771-6801
slavi@ormat.com
SOURCE OrCal