NGP Refinanced

JOHN MCILVEEN, Jacob Securities, Inc. (06/16/2010)
"Nevada Geothermal's Faulkner 1 plant will be the first to access a loan guarantee under the DOE's Financial Institution Partnership Program. NGP has received a conditional commitment from John Hancock Financial Services as lead lender for a US$98.5M loan and an offer for a conditional commitment from the DOE as loan guarantor for up to 80% of the loan amount.

Great News! About $91M of the ~5.5% loan will be used to refinance the TCW 14% loan down to $70M. The balance will be used to complete Faulkner 1 and for debt reserves. Reiterate Speculative Buy and one-year price target of $1.70."

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