Calpine Corp. to Offer Private Placement of Notes

Calpine Corp. to Offer Private Placement of Senior Secured Notes

Calpine Corp. announced that it intends to offer in a private placement Senior Secured Notes (via PPM) due 2021 in an aggregate principal amount to be determined.

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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Since 1999, the founders of PPM have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.

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