Kenon unit CPV Renewables enters $430M financing

Kenon Holdings’ energy affiliate secures about $430 million in new CPV Renewables financing with a long-term loan and replacement guarantee facilities.

Rhea-AI Filing Summary

Kenon Holdings Ltd. (KEN) reports that its subsidiary OPC Energy Ltd. announced a new financing agreement entered into by CPV Renewable Power LLC with Bank Leumi for approximately $430 million.

The agreement includes a $250 million term loan maturing in December 2031 at an interest rate of SOFR plus 1.8% to 2.4%, primarily to repay CPV Renewables’ project loans. It also provides guarantee and letter-of-credit facilities of about $180 million, generally replacing existing facilities, with commissions between 1% and 2%. CPV Renewables will be subject to customary financial covenants, undertakings, limitations, events of default and repayment provisions typical for financings of this kind.

Filing Explained

The subsidiary financing agreement is entered, but its stated debt-repayment and facility-replacement uses remain uncompleted in the disclosure.

The filing reports that CPV Renewables has entered into the financing agreement: it creates a term-loan obligation and guarantee/letter-of-credit capacity at the subsidiary, while the stated repayment and replacement uses are not reported as completed.

CPV Renewables is 66.7% owned by CPV Group LP, which is 71% owned by OPC, so the financing sits at an OPC-linked subsidiary rather than as a borrowing by Kenon itself.

The press release labels the intended uses and use of proceeds as forward-looking, so this filing does not establish that the $250 million term loan was drawn or that the $180 million facilities replaced existing ones.

Key Figures

Total financing amount: $430 million Term loan amount: $250 million Term loan maturity: December 2031 +5 more

8 metrics

Total financing amount $430 million Financing agreement entered into by CPV Renewables with Bank Leumi

Term loan amount $250 million Term loan under the Financing Agreement, primarily to repay project loans

Term loan maturity December 2031 Maturity date of the $250 million term loan

Term loan interest rate SOFR + 1.8% to 2.4% Interest payable on the $250 million term loan

Guarantee and letter-of-credit facilities $180 million Aggregate amount of facilities for guarantees and letters of credit

Guarantee/LC commission rate 1% to 2% Commission rate depending on type of letter of credit or guarantee

OPC ownership in CPV Group LP 71% OPC’s ownership stake in CPV Group LP

CPV Group LP ownership in CPV Renewables 66.7% CPV Group LP’s ownership stake in CPV Renewable Power LLC

Key Terms

term loan, letters of credit, SOFR, financial covenants, +1 more

5 terms

term loan financial

"The Financing Agreement includes a term loan of approximately $250 million"

A term loan is a type of loan that is borrowed for a set period of time, with a fixed schedule for repaying the money, usually in regular payments. It matters to investors because it represents a company's borrowing costs and financial stability; reliable repayment of these loans can indicate strong financial health, while difficulties may signal potential risks.

letters of credit financial

"includes facilities for guarantees and letters of credit in an aggregate amount"

A letter of credit is a promise from a bank to pay a seller if the buyer fails to do so, commonly used in trade and large contracts to ensure payment. Think of it as a bank standing in for the buyer, like a certified check or payment insurance that reduces the risk of nonpayment. For investors, letters of credit matter because they affect a company’s cash flow, borrowing needs and contingent liabilities, and signal how much credit support a business requires to secure deals.

SOFR financial

"will bear interest payable at a rate equal to SOFR plus a margin"

The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.

financial covenants financial

"includes customary financial covenants and other obligations"

Financial covenants are rules written into loan or bond agreements that require a company to keep certain financial measures within agreed limits—examples include minimum cash, maximum debt levels, or minimum profit margins. They act like guardrails for lenders: breaking a covenant can force renegotiation, trigger penalties or default, and quickly affect a company’s available cash and stock value, so investors watch them as early warning signs of financial stress.

events of default financial

"customary undertakings, limitations, events of default and repayment provisions"

Events of default are specific breaches or failures listed in a loan, bond, or credit agreement that give lenders the right to act, such as demanding immediate repayment, raising interest rates, or taking secured assets. They matter to investors because triggering one is like setting off a financial alarm: it raises the chance of foreclosure, restructuring, or bankruptcy and can sharply reduce the value of a company’s stock or bonds and increase borrowing costs.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What financing did Kenon Holdings Ltd. (KEN) announce for CPV Renewables?

Kenon reported that CPV Renewable Power LLC entered into a $430 million financing agreement with Bank Leumi, including a term loan and additional facilities for guarantees and letters of credit.

How large is the term loan under the CPV Renewables financing for KEN?

The financing includes a term loan of approximately $250 million, primarily intended to repay CPV Renewables’ existing project loans. The loan matures in December 2031 and bears interest at SOFR plus 1.8% to 2.4%.

What additional facilities are included in CPV Renewables’ $430 million financing for KEN?

Beyond the term loan, the agreement provides facilities for guarantees and letters of credit totaling about $180 million, largely replacing existing facilities used for CPV Renewables, with commissions ranging from 1% to 2%.

Who is the lender in CPV Renewables’ new financing disclosed by KEN?

The lender is Bank Leumi, which entered into a financing agreement with CPV Renewable Power LLC, a company 66.7% owned by CPV Group LP, which in turn is 71% owned by OPC Energy Ltd., a subsidiary of Kenon Holdings Ltd.

What covenants apply to CPV Renewables under the financing mentioned by KEN?

CPV Renewables will be subject to customary financial covenants, undertakings, limitations, events of default, and repayment provisions typical for financings of this nature, as described in the announcement.

What is the intended use of proceeds from the CPV Renewables term loan for KEN’s group?

OPC stated the $250 million term loan is primarily intended to repay CPV Renewables’ project loans, while the $180 million guarantee and letter-of-credit facilities are largely to be used in lieu of existing facilities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

September 10, 2026

Commission File Number 001-36761

Kenon Holdings Ltd.

1 Temasek Avenue #37-02B
Millenia Tower
Singapore 039192
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒         Form 40-F ☐

EXHIBIT 99.1 TO THIS REPORT ON FORM 6-K IS INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-201716) OF KENON HOLDINGS LTD. AND IN THE PROSPECTUSES RELATING TO SUCH REGISTRATION STATEMENT.

Exhibits

99.1 Press Release, dated September 10, 2026: Kenon’s Subsidiary OPC Energy Ltd. Announces Financing Agreement Entered into by CPV Renewables

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, thereunto duly authorized.

	KENON HOLDINGS LTD.
Date: September 10, 2026	By:	/s/ Robert L. Rosen
		Name: Robert L. Rosen
		Title: Chief Executive Officer

Exhibit 99.1 

Kenon’s Subsidiary OPC Energy Ltd. Announces Financing

Agreement Entered into by CPV Renewables

Singapore, September 10, 2026. Kenon Holdings Ltd.’s (NYSE: KEN, TASE: KEN) (“Kenon”) subsidiary OPC Energy Ltd. (“OPC”) has announced that CPV Renewable Power LLC (“CPV Renewables”), which is 66.7% owned by CPV Group LP (which is 71% owned by OPC), has entered into a financing agreement with Bank Leumi for financing of approximately $430 million (the “Financing Agreement”). Certain key terms announced by OPC are set out below.

The Financing Agreement includes a term loan of approximately $250 million, primarily intended to repay CPV Renewables' project loans. The term loan matures in December 2031 and will bear interest payable at a rate equal to SOFR plus a margin between 1.8% and 2.4%.

The Financing Agreement also includes facilities for guarantees and letters of credit in an aggregate amount of approximately $180 million, the majority of which are intended to be used in lieu of existing facilities that were used for the benefit of CPV Renewables. Such facilities will bear a commission at a rate between 1% and 2%, depending on the type of the letter of credit or guarantee.

The Financing Agreement includes customary financial covenants and other obligations, and CPV Renewables will be subject to customary undertakings, limitations, events of default and repayment provisions of the type that are customary in financings of this nature.

Caution Concerning Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “estimate,” “intend,” “plan,” “believe,” “likely to,” “should,” or other similar expressions. These statements include statements relating to the Financing Agreement, the intended use of the term loan, guarantees and letters of credit, and the use of proceeds thereunder and other non-historical statements. These forward-looking statements are based on current expectations or beliefs and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties which could cause the actual results to differ materially from those indicated in Kenon’s forward-looking statements. Such risks include risks relating to the Financing Agreement, including compliance with the terms of and covenants in the Financing Agreement and other risks, including those set forth under the heading “Risk Factors” in Kenon’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. Except as required by law, Kenon undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 5.5 KB