Calpine: Senior Unsecured Notes Offering
Houston, Texas - Calpine Corporation (CPN) announced the pricing of $650,000,000 in aggregate principal amount of its 5.500% Senior Unsecured Notes due 2024 pursuant to the Company’s shelf registration statement filed with the Securities and Exchange Commission. The aggregate principal amount of the notes offered was increased from $500,000,000. The offering is expected to close on February 3, 2015. Calpine Corporation intends to use up to $150,000,000 of the net proceeds from this offering to repurchase a portion of its 7.875% Senior Secured Notes due 2023, and the remainder of the net proceeds from this offering will be used to replenish cash on hand used for the acquisition of Fore River Energy Center in the fourth quarter of 2014 and for general corporate purposes.
This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and nor shall there be any offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Calpine Corporation owns and operates primarily natural gas-fired and geothermal power plants in North America and has a significant presence in major competitive wholesale power markets in California, Texas and the Mid-Atlantic region of the U.S. Calpine Corporation sells wholesale power, steam, capacity, renewable energy credits and ancillary services to its customers, which include utilities, independent electric system operators, industrial and agricultural companies, retail power providers, municipalities, power marketers and others.
Brett Kerr, 713-830-8809
Bryan Kimzey, 713-830-8775