Tuesday, Calpine Corp. (CPN) said that it intends to offer in a private placement to holders of term loans under its existing credit facility, $750.0 million in aggregate principal amount of senior secured notes due 2017 for a like principal amount of term loans outstanding under such credit facility.
Calpine said that the notes will be guaranteed by each of its current and future subsidiaries that is a guarantor under its existing credit facility. The notes and related guarantees will be secured equally and ratably with the indebtedness incurred under Calpine Corporation's existing credit facility by a first-priority lien on substantially all of Calpine Corporation's and certain of the guarantors' existing and future assets, subject to certain exceptions and permitted liens.
The notes have not been, and will not be, registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration under the Securities Act or pursuant to an applicable exemption from such registration.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.