Calpine to repay loan borrowings, redeem 5¼% secured notes due 2026

By Taylor Fox

New York, Dec. 2 – Calpine Corp. plans to repay a portion of the outstanding borrowings under its first-lien term loan facility due 2024 and redeem and/or repurchase a portion of its outstanding 5¼% senior secured notes due 2026, according to a news release.

Calpine also plans to pay all related premiums, fees and expenses.

The transactions will be funded using proceeds from its private offering of $1 billion senior notes due 2031.

Any remaining proceeds will be used for general corporate purposes, including repayment of existing debt.

Calpine is a Houston-based provider of power generation services.

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