On March 20, 2026, Ormat Technologies, Inc. (NYSE: ORA) successfully completed its previously announced offering of $1 billion in convertible senior notes. This offering consisted of $825 million in 1.50% Series A Convertible Senior Notes due 2031 and $175 million in 0.00% Series B Convertible Senior Notes due 2031. The offering included the full exercise of the initial purchasers' options to purchase an additional $100 million of Series A Notes and $25 million of Series B Notes. The Series A Notes will accrue interest at a rate of 1.50% per annum, payable semiannually, while the Series B Notes will not bear regular interest. Both series of notes will mature on March 15, 2031, unless converted or redeemed earlier. The proceeds from this offering are expected to be used for general corporate purposes, including the repurchase of existing convertible senior notes due 2027, which will help mitigate dilution and strengthen the company's balance sheet. The company anticipates that the net proceeds from the offering will be approximately $975.7 million after deducting fees and expenses. This strategic move is expected to enhance Ormat's liquidity and financial flexibility, positioning the company for future growth in the renewable energy sector.

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