Ormat Technologies, Inc. (ORA) has announced the pricing of an upsized private offering of convertible senior notes totaling $875 million. The offering size was increased from the previously planned $750 million due to strong institutional demand. The total amount consists of $725 million in Series A notes with a 1.50% coupon and $150 million in Series B notes with a 0.00% coupon. Both series of notes are scheduled to mature in 2031, providing the company with long-term capital for its operations. The transaction is expected to close on March 20, 2026, subject to customary closing conditions. While the upsizing signals investor confidence, such offerings can create short-term volatility in the stock price due to potential dilution and hedging activities.
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