Thursday, Calpine Corp. (CPN) announced the pricing of its 7.25% Senior Secured Notes due 2017 in a private placement to term loan holders of under its existing credit facility for a like principal amount of term loans outstanding under such credit facility. The company said the amount of the offering was increased to $1.2 billion, provided that the amount of loans purchased and notes issued could be slightly less than $1.2 billion, due to rounding of amounts issued to $1,000 increments.
The aggregate principal amount of the notes offered was increased from $750 million. This offering is expected to close on October 21, 2009.
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