Rosetta to borrow $325 million under new loan for purchase of some Calpine assets

By Sara Rosenberg

New York, June 29 - Rosetta Resources Inc., a newly formed indirect wholly owned subsidiary of Calpine Corp., is working on getting a new credit facility and plans on drawing down $325 million under that facility to help fund the purchase of Calpine's domestic oil and gas exploration and production assets, according to a company news release.

In addition, Rosetta has agreed to issue 45,312,500 of its common shares in a private placement for $725 million to fund the remainder of the $1.05 billion purchase price.

Following this transaction, which is scheduled to close on July 7, Calpine will no longer own any interest in Rosetta.

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