Calpine Corp. to Offer Private Placement of Notes
Calpine Corp. to Offer Private Placement of Senior Secured Notes
In a release on Oct. 18, the company said the notes will be guaranteed by each of Calpine Corp.’s current and future subsidiaries that is a guarantor under Calpine Corp.’s existing credit facility. The notes and related guarantees will be secured equally and ratably with the indebtedness incurred under Calpine Corp.’s existing credit facility and other indebtedness that is permitted to be secured by such assets, by a first-priority lien on substantially all of Calpine Corp.’s and certain of the guarantors’ existing and future assets, subject to certain exceptions and permitted liens.
Calpine Corp. said it intends to use the net proceeds from this offering to repay a portion of the term loan borrowings under its existing credit facility.
Calpine Corp. is a U.S. power company, currently capable of delivering nearly 29,000 megawatts of power from its 93 operating plants to customers and communities in 21 states in the United States and Canada.
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