USA, Idaho:

U.S. Geothermal Closes Long Term Permanent Financing For San Emidio With Prudential Capital Group (Press Release)

U.S. Geothermal Inc., announced today that its wholly owned subsidiary, USG Nevada LLC, has entered into a long term project loan agreement with Prudential Capital Group and related entities, for the Phase I San Emidio geothermal project in northwest Nevada.

The loan is for $30.74 million, has a term of just under 25 years, and bears a fixed interest rate of 6.75% per annum. Proceeds from the loan will be used to repay the construction loan, fund project reserves, and pay certain closing expenses. In addition, $2.56 million will be distributed to U.S. Geothermal Inc. and be available for general corporate working capital purposes, including the further development of Phase II at San Emidio.

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