An orthogonal drawing of a graph is a planar drawing where each edge is drawn as a sequence of horizontal and vertical line segments. Finding a bend-minimized orthogonal drawing of a planar graph of maximum degree 4 is NP-hard. The problem becomes tractable for planar graphs of maximum degree 3, and the fastest known algorithm takes O(n^5 log n) time. Whether a faster algorithm exists has been a long-standing open problem in graph drawing. In this paper we present an algorithm that takes only O~(n^{17/7}) time, which is a significant improvement over the previous state of the art.