Calpine Announces Pricing Of Senior Unsecured Notes Offer

(RTTNews) - On July 8, Calpine Corp. (CPN), an operator of natural gas-fired and geothermal power plants, priced $1.25 billion in aggregate principal amount of its 5.375 percent Senior Unsecured Notes due 2023 and $1.55 billion in aggregate principal amount of its 5.750 percent Senior Unsecured Notes due 2025. The offering is expected to close on July 22.

Calpine intends to use the net proceeds from this offering, together with cash on hand, to repurchase or redeem some or all of the company's 8 percent Senior Secured Notes due 2019.

The proceeds may also be used to pay premiums, fees and expenses relating to the purchase and redemption of existing secured notes.