NYSE:ORARenewable Energy
Ormat Upsizes US$875m Convertibles To Rework Debt Load And Dilution Risk
Ormat Technologies (NYSE:ORA) has priced $875 million of convertible senior notes in a significantly upsized offering.
The company plans to use the proceeds to repurchase existing debt and shares, reshaping its capital structure.
The transaction introduces new convertible securities that can affect future dilution and interest costs for shareholders.
For readers tracking NYSE:ORA, this financing move comes with the stock at $110.52 and a 1 year return of 54.2%. Over 3 and 5 years, returns...