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<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
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<P id=PARA12 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>FORM 8-K</B></FONT></P>
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<P id=PARA14 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>CURRENT REPORT PURSUANT<BR>TO SECTION 13 OR 15(d) OF THE<BR>SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>
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<P id=PARA16 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Date of Report (Date of earliest event reported): <B>September 14</B><B>, 2016</B></FONT></P>
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<P id=PARA18 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Ormat Technologies, Inc.</B></FONT></P>
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<P id=PARA22 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(Exact Name of Registrant as Specified in Its Charter)</FONT></P>
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<P id=PARA29 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Delaware</B><BR>(State or Other Jurisdiction of Incorporation)</FONT></P></TD>
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<P id=PARA30 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>001-32347</B><BR>(Commission File Number) </FONT></P></TD>
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<P id=PARA31 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>No.</B><B> 88-0326081</B><BR>(I.R.S. Employer Identification No.)</FONT></P></TD></TR></TABLE>
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<P id=PARA38 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>6225 Neil Road, Reno, Nevada</B><BR>(Address of Principal Executive Offices) </FONT></P></TD>
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<P id=PARA40 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>89511-1136</B><BR>(Zip Code)</FONT></P></TD></TR></TABLE>
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<P id=PARA42 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(775)&nbsp;356-9029</B><BR>(Registrant&#8217;s Telephone Number, Including Area Code)</FONT></P>
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<P id=PARA46 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Not Applicable</B></FONT></P>
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<P id=PARA50 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</FONT></P>
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<P id=PARA186><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</FONT></P></FONT></TD></TR></TABLE>
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<P id=PARA188><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P></FONT></TD></TR></TABLE>
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<P id=PARA190><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P></FONT></TD></TR></TABLE>
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<P id=PARA191><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;</FONT></P></TD>
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<P id=PARA192><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P></FONT></TD></TR></TABLE>
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<P id=PARA199><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Item 1.01</FONT></B></P></TD>
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<P id=PARA200><B><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Entry into a Material Definitive Agreement.</P></FONT></B></TD></TR></TABLE>
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<P id=PARA197><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Item 2.03</FONT></B></P></TD>
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<P id=PARA198><B><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></FONT></P></FONT></B></TD></TR></TABLE>
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<P id=PARA195><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Item 9.01.</FONT></B></P></TD>
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<P id=PARA196><B><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Financial Statements and Exhibits.</P></FONT></B></TD></TR></TABLE>
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<P id=PARA82 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Signatures</B></FONT></P>
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<P id=PARA84 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit Index</B></FONT></P>
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<P id=PARA202><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit 99.1</FONT></B></P></TD>
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<P id=PARA203><B><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Press Release of the Company dated September 11, 2016.</B></FONT></P></FONT></B></TD></TR></TABLE>
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<P id=PARA93 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>INFORMATION TO BE INCLUDED IN THE REPORT</B></FONT></P>
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<P id=PARA206><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Item 1.01.</FONT></B></P></TD>
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<P id=PARA207><B><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Entry into a Material Definitive Agreement.</B></FONT></P></FONT></B></TD></TR></TABLE>
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<P id=PARA100 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On September 14, 2016 Ormat Technologies, Inc. (the &#8220;Company&#8221;) entered into two deed of trust agreements (each, a "Trust Deed") with Mishmeret Trust Services Company, Ltd., as trustee, governing the issuance of senior unsecured bonds in an aggregate principal amount of $204.3 million (the &#8220;Bonds&#8221;). The Company issued the Bonds on September 14, 2016 in an unregistered offering outside the United States to investors who are not "U.S. persons", as such term is defined in Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), and otherwise subject to the requirements of Regulation S.</FONT></P>
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<P id=PARA102 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Bonds were issued in two Series. The Series 2 Bonds, issued in an aggregate principal amount of $67.2 million, will mature in September 2020 and bear interest at a fixed rate of 3.7% per annum, payable semi-annually. The Series 3 Bonds, issued in an aggregate principal amount of $137.1 million, will mature in September 2022 and bear interest at a fixed rate of 4.45% per annum, payable semi-annually. The interest rate on the bonds is subject to adjustment in certain circumstances as described below.</FONT></P>
<P id=PARA103 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA104 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Bonds are ranked &#8220;ilA+&#8221; by Maalot S&amp;P in Israel with a stable outlook. In the event that the rating of the Bonds is downgraded by two rating levels, the interest rate applicable to each Series of Bonds will be increased by 0.50%. In the event that the rating of the Bonds is further downgraded, the interest rate applicable to each Series of Bonds will be further increased by 0.25% per each additional downgrade notch. In no event will the cumulative interest rate applicable to each Series of Bonds increase by more than 1% in total, regardless of the cumulative rating downgrade. A subsequent reinstatement of a rating level will reduce the interest rate applicable to each Series of Bonds by 0.25% per each notch (but in no event will interest on the bonds reduce below the base rate of 3.7% for the Series 2 and 4.45% for the Series 3, respectively). If the Bonds cease to be rated for reasons attributable to the Company, the interest rate applicable to each Series of Bonds will be increased by 1%.</FONT></P>
<P id=PARA105 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA106 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">At any time and for so long as the Company&#8217;s ratio of debt to Adjusted EBITDA exceeds 4.5, the interest rate applicable to each Series of Bonds will be increased by 0.50%. </FONT></P>
<P id=PARA107 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA108 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Bonds constitute senior unsecured obligations of the Company and will rank equally in right of payment with any existing and future senior unsecured indebtedness of the Company, and effectively junior to any existing and future secured indebtedness, to the extent of the security therefor. </FONT></P>
<P id=PARA109 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA110 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The terms of both Trust Deeds are generally identical (other than with respect to tenor and interest rate for the separate Series of Bonds) and include covenants that require the Company to maintain a debt to adjusted EBITDA ratio below 6, a minimum equity amount (as shown on its consolidated financial statements, excluding noncontrolling interests) of not less than $650 million, and an equity (excluding noncontrolling interest) to total assets ratio of not less than 25%. In addition, the Trust Deeds prohibit the Company from making dividend payments if its equity falls below $800 million and otherwise restrict dividend payments in any one year to less than 50% of the net income of such year, as shown on the Company&#8217;s consolidated annual financial statements. </FONT></P>
<P id=PARA208.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK208  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR208  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM208  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">4&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR208  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA208.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P id=PARA112 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Bonds may be subject to acceleration upon a vote of the requisite Bondholders if (i) the equity (excluding noncontrolling interest) to total assets ratio falls below 25% for any period that exceeds two consecutive quarters, (ii) the debt to adjusted EBITDA ratio is greater than 5 for a period of one year, (iii) the debt to adjusted EBITDA ratio is greater than 6 (at any time), or (iv) the minimum equity amount (excluding noncontrolling interest) falls below $650 million for any period that exceeds two consecutive quarters. </FONT></P>
<P id=PARA113 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA114 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Bonds are subject to mandatory redemption if the Company (i) fails to list the Bonds for trading on the TACT-Institutional trading system maintained by the Tel Aviv Stock Exchange for trading of privately placed securities within sixty (60) days, or (ii) does not use the proceeds of the bonds within 180 days to prepay its outstanding bonds that mature on August 2017.</FONT></P>
<P id=PARA115 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA116 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Trust Deeds also include other customary payment and covenant events of default.</FONT></P>
<P id=PARA117 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA118 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Bonds are also subject to early redemption by the Company prior to maturity from time to time (but not more frequently than once per quarter) and at any time following listing of the Bonds, in whole or in part, at a redemption price equal to the greater of (1) the principal amount being redeemed, plus accrued and unpaid interest on such amount through the redemption date, or (2) the sum of the remaining installments of principal plus interest discounted at the yield of benchmark Treasury securities (selected and determined in the manner set forth in the Trust Deed) plus 1%. </FONT></P>
<P id=PARA119 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA120 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL209  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 54pt; VERTICAL-ALIGN: top">
<P id=PARA210><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Item 2.03.</FONT></B></P></TD>
<TD style="VERTICAL-ALIGN: top">
<P id=PARA211><B><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></FONT></P></FONT></B></TD></TR></TABLE>
<P id=PARA125 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA126 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The information set forth under &#8220;Item 1.01. Entry into a Material Definitive Agreement&#8221; is incorporated herein by reference.</FONT></P>
<P id=PARA127 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL128  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 54pt; VERTICAL-ALIGN: top">
<P id=PARA212><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Item 9.01.</FONT></B></P></TD>
<TD style="VERTICAL-ALIGN: top">
<P id=PARA213><B><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Financial Statements and Exhibits.</P></FONT></B></TD></TR></TABLE>
<P id=PARA129 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL130  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 27pt; VERTICAL-ALIGN: top">
<P id=PARA214><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(d)</FONT></P></TD>
<TD style="VERTICAL-ALIGN: top">
<P id=PARA215><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Exhibits*</P></FONT></TD></TR></TABLE>
<P id=PARA131 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL216  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 27pt">
<P id=PARA219 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 72pt; VERTICAL-ALIGN: top">
<P id=PARA217><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Exhibit 99.1</FONT></P></TD>
<TD style="VERTICAL-ALIGN: top">
<P id=PARA218><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Press Release of the Company dated September 11, 2016</FONT></P></FONT></TD></TR></TABLE>
<P id=PARA136 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA137 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA138 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;Pursuant to Item 601(b)(4)(iii)(A) of Regulation S-K, a copy of the Trust Deed and the form of Bonds referred to in this Current Report on Form 8-K is not filed. The Company will furnish a copy thereof to the Securities Exchange Commission upon request.</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</P>
<DIV id=PGBK232  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR232  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM232  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">5&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR232  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>SIGNATURES</B></FONT></P>
<P id=PARA139.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P id=PARA142 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>
<P id=PARA143 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA144 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<TABLE  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0>

<TR>
<TD style="WIDTH: 50%">
<P id=PARA220 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD>
<TD style="WIDTH: 3%" colSpan=2>
<P id=PARA221 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">Ormat Technologies, Inc.</P></TD>
<TD style="WIDTH: 12%">
<P id=PARA223 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD></TR>
<TR>
<TD style="WIDTH: 50%">
<P id=PARA224 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD>
<TD style="WIDTH: 3%">
<P id=PARA225 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD>
<TD style="WIDTH: 35%">
<P id=PARA226 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD>
<TD style="WIDTH: 12%">
<P id=PARA227 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD></TR>
<TR>
<TD style="WIDTH: 50%">&nbsp;</TD>
<TD style="WIDTH: 3%">&nbsp;</TD>
<TD style="WIDTH: 35%">&nbsp;</TD>
<TD style="WIDTH: 12%">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 50%">
<P id=PARA228 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD>
<TD style="WIDTH: 3%">
<P id=PARA229 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD>
<TD style="WIDTH: 35%">
<P id=PARA230 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD>
<TD style="WIDTH: 12%">
<P id=PARA231 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD></TR>
<TR>
<TD style="WIDTH: 50%">&nbsp;</TD>
<TD style="WIDTH: 3%">&nbsp;</TD>
<TD style="WIDTH: 35%">&nbsp;</TD>
<TD style="WIDTH: 12%">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 50%">&nbsp;</TD>
<TD style="WIDTH: 3%">By:</TD>
<TD style="WIDTH: 35%; BORDER-BOTTOM: #000000 1px solid">/s/ Isaac Angel</TD>
<TD style="WIDTH: 12%">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 50%">&nbsp;</TD>
<TD style="WIDTH: 3%">&nbsp;</TD>
<TD style="WIDTH: 35%">Name:&nbsp;&nbsp;&nbsp;Isaac Angel</TD>
<TD style="WIDTH: 12%">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 50%">&nbsp;</TD>
<TD style="WIDTH: 3%">&nbsp;</TD>
<TD style="WIDTH: 35%">Title:&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Chief Executive Officer</TD>
<TD style="WIDTH: 12%">&nbsp;</TD></TR></TABLE>
<P id=PARA145 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P>
<P id=PARA157 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Date: September 14, 2016</FONT></P>
<P id=PARA158 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</P>
<DIV id=PGBK159  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR159  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM159  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">6&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR159  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA159.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA160 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>EXHIBIT INDEX</B></FONT></P>
<P id=PARA161 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA162 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA163 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL168  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top">
<P id=PARA164 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Exhibit </FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><U>Number</U></FONT></P></TD>
<TD style="WIDTH: 80%; VERTICAL-ALIGN: top">
<P id=PARA165 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><BR><U>Description of Exhibit</U></FONT></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 80%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 80%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top">
<P id=PARA166 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">99.1</FONT></P></TD>
<TD style="WIDTH: 80%; VERTICAL-ALIGN: top">
<P id=PARA167 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Press Release of the Company dated September 11, 2016.</FONT></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top">&nbsp; </TD></TR></TABLE>
<P id=PARA169 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA170 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P>
<P id=PARA171 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA172 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">7&nbsp;</FONT></P></BODY></HTML>
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ora20160913_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
September 14
, 2016
Ormat Technologies, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
001-32347
(Commission File Number)
No.
88-0326081
(I.R.S. Employer Identification No.)
6225 Neil Road, Reno, Nevada
(Address of Principal Executive Offices)
89511-1136
(Zip Code)
(775) 356-9029
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
2
TABLE OF CONTENTS
Item 1.01
Entry into a Material Definitive Agreement.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Item 9.01.
Financial Statements and Exhibits.
Signatures
Exhibit Index
Exhibit 99.1
Press Release of the Company dated September 11, 2016.
3
INFORMATION TO BE INCLUDED IN THE REPORT
Item 1.01.
Entry into a Material Definitive Agreement.
On September 14, 2016 Ormat Technologies, Inc. (the "Company") entered into two deed of trust agreements (each, a "Trust Deed") with Mishmeret Trust Services Company, Ltd., as trustee, governing the issuance of senior unsecured bonds in an aggregate principal amount of $204.3 million (the "Bonds"). The Company issued the Bonds on September 14, 2016 in an unregistered offering outside the United States to investors who are not "U.S. persons", as such term is defined in Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), and otherwise subject to the requirements of Regulation S.
The Bonds were issued in two Series. The Series 2 Bonds, issued in an aggregate principal amount of $67.2 million, will mature in September 2020 and bear interest at a fixed rate of 3.7% per annum, payable semi-annually. The Series 3 Bonds, issued in an aggregate principal amount of $137.1 million, will mature in September 2022 and bear interest at a fixed rate of 4.45% per annum, payable semi-annually. The interest rate on the bonds is subject to adjustment in certain circumstances as described below.
The Bonds are ranked "ilA+" by Maalot S&P in Israel with a stable outlook. In the event that the rating of the Bonds is downgraded by two rating levels, the interest rate applicable to each Series of Bonds will be increased by 0.50%. In the event that the rating of the Bonds is further downgraded, the interest rate applicable to each Series of Bonds will be further increased by 0.25% per each additional downgrade notch. In no event will the cumulative interest rate applicable to each Series of Bonds increase by more than 1% in total, regardless of the cumulative rating downgrade. A subsequent reinstatement of a rating level will reduce the interest rate applicable to each Series of Bonds by 0.25% per each notch (but in no event will interest on the bonds reduce below the base rate of 3.7% for the Series 2 and 4.45% for the Series 3, respectively). If the Bonds cease to be rated for reasons attributable to the Company, the interest rate applicable to each Series of Bonds will be increased by 1%.
At any time and for so long as the Company's ratio of debt to Adjusted EBITDA exceeds 4.5, the interest rate applicable to each Series of Bonds will be increased by 0.50%.
The Bonds constitute senior unsecured obligations of the Company and will rank equally in right of payment with any existing and future senior unsecured indebtedness of the Company, and effectively junior to any existing and future secured indebtedness, to the extent of the security therefor.
The terms of both Trust Deeds are generally identical (other than with respect to tenor and interest rate for the separate Series of Bonds) and include covenants that require the Company to maintain a debt to adjusted EBITDA ratio below 6, a minimum equity amount (as shown on its consolidated financial statements, excluding noncontrolling interests) of not less than $650 million, and an equity (excluding noncontrolling interest) to total assets ratio of not less than 25%. In addition, the Trust Deeds prohibit the Company from making dividend payments if its equity falls below $800 million and otherwise restrict dividend payments in any one year to less than 50% of the net income of such year, as shown on the Company's consolidated annual financial statements.
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The Bonds may be subject to acceleration upon a vote of the requisite Bondholders if (i) the equity (excluding noncontrolling interest) to total assets ratio falls below 25% for any period that exceeds two consecutive quarters, (ii) the debt to adjusted EBITDA ratio is greater than 5 for a period of one year, (iii) the debt to adjusted EBITDA ratio is greater than 6 (at any time), or (iv) the minimum equity amount (excluding noncontrolling interest) falls below $650 million for any period that exceeds two consecutive quarters.
The Bonds are subject to mandatory redemption if the Company (i) fails to list the Bonds for trading on the TACT-Institutional trading system maintained by the Tel Aviv Stock Exchange for trading of privately placed securities within sixty (60) days, or (ii) does not use the proceeds of the bonds within 180 days to prepay its outstanding bonds that mature on August 2017.
The Trust Deeds also include other customary payment and covenant events of default.
The Bonds are also subject to early redemption by the Company prior to maturity from time to time (but not more frequently than once per quarter) and at any time following listing of the Bonds, in whole or in part, at a redemption price equal to the greater of (1) the principal amount being redeemed, plus accrued and unpaid interest on such amount through the redemption date, or (2) the sum of the remaining installments of principal plus interest discounted at the yield of benchmark Treasury securities (selected and determined in the manner set forth in the Trust Deed) plus 1%.
Item 2.03.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under "Item 1.01. Entry into a Material Definitive Agreement" is incorporated herein by reference.
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits*
Exhibit 99.1
Press Release of the Company dated September 11, 2016
*         Pursuant to Item 601(b)(4)(iii)(A) of Regulation S-K, a copy of the Trust Deed and the form of Bonds referred to in this Current Report on Form 8-K is not filed. The Company will furnish a copy thereof to the Securities Exchange Commission upon request.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Ormat Technologies, Inc.
By:
/s/ Isaac Angel
Name:   Isaac Angel
Title:      Chief Executive Officer
Date: September 14, 2016
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EXHIBIT INDEX
Exhibit
Number
Description of Exhibit
99.1
Press Release of the Company dated September 11, 2016.
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