Calpine Corporation Announces Senior Secured Notes Offering

HOUSTON--(BUSINESS WIRE)--Calpine Corporation (NYSE: CPN) today announced that it intends to offer $550,000,000 in aggregate principal amount of its 5.250% Senior Secured Notes due 2026 in a private placement. The notes will be issued as additional notes under the indenture governing Calpine Corporation’s 5.250% Senior Secured Notes due 2026 that were issued on May 31, 2016. The notes will be guaranteed by each of Calpine Corporation’s current and future subsidiaries that is a guarantor under Calpine Corporation’s first lien credit facilities. The notes and related guarantees will be secured equally and ratably with the indebtedness incurred under Calpine Corporation’s first lien credit facilities and other indebtedness that is permitted to be secured by such assets, 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.