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Calpine gets tenders for $612.71 million 5 3/8% notes, will call rest
By Angela McDaniels
Tacoma, Wash., Dec. 30 – Calpine Corp. received tenders for $612,708,000 principal amount, or 49.57%, of its $1,236,000,000 5 3/8% senior notes due 2023, according to a company news release.
All of the tendered notes have been accepted for purchase.
The tender offer began Dec. 19 and expired at 5 p.m. ET on Dec. 26.
Holders who tendered will receive $1,015.38 per $1,000 principal amount of notes plus accrued interest up to but excluding the settlement date, Dec. 27.
Tenders delivered under guaranteed delivery procedures were due by 5 p.m. ET on Dec. 30.
On Dec. 27, the company announced the closing of $1.4 billion principal amount of 5 1/8% senior notes due 2028 and said it would use the proceeds to pay for the tender offer and to redeem any notes not tendered in the offer.
Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2476) is the dealer manager. D.F. King & Co., Inc. (www.dfking.com/calpine, 866 751-6311, 212 269-5550 or calpine@dfking.com) is the tender and information agent.
Houston-based Calpine is a generator of electricity from natural gas and geothermal resources.
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