Orcal Geothermal extends consent solicitation

Orcal Geothermal extends consent solicitation deadline related to senior secured notes

Associated Press

NEW YORK (AP) -- OrCal Geothermal Inc. said Monday it has extended the expiration date of a consent solicitation related to its 6.21 percent senior secured notes due Dec. 30, 2020.

Orcal, which is a wholly owned subsidiary of Ormat Technologies Inc., launched the effort Dec. 3, seeking approval from investors to waive certain provisions in the indenture governing the notes. The consent solicitation was to expire Friday but the company has extended that to 5 p.m. EST on Wednesday.

Orcal, which is based in Reno, Nev., needs clearance from the people or entities that hold 66 2/3 percent of the aggregate principal of outstanding notes.

Shares of Ormat Technologies rose 26 cents to $18.56 in afternoon trading. The price has ranged from $16.01 to $22.24 per share in the past 52 weeks.

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