Calpine Corporation Announces Senior Secured Notes Offering
October 13 2009 - 7:24AM
Business Wire
Calpine Corporation (NYSE:CPN) today announced 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. The notes
will be guaranteed by each of Calpine Corporation’s current and
future subsidiaries that is a guarantor under Calpine Corporation’s
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 (the “Securities Act”), 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.
This announcement does not constitute an offer to sell, or the
solicitation of offers to buy, any security and shall not
constitute an offer, solicitation or sale of any security in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Calpine
Calpine Corporation is helping meet the needs of an economy that
demands more and cleaner sources of electricity. Founded in 1984,
Calpine is a major U.S. power company, currently capable of
delivering over 24,000 megawatts of clean, cost-effective, reliable
and fuel-efficient electricity to customers and communities in 16
states in the United States and Canada. Calpine owns, leases, and
operates low-carbon, natural gas-fired, and renewable geothermal
power plants. Using advanced technologies, Calpine generates
electricity in a reliable and environmentally responsible manner
for the customers and communities it serves.
Forward-Looking Information
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Words such as "believe," "intend," "expect," "anticipate," "plan,"
"may," "will" and similar expressions identify forward-looking
statements. Such statements include, among others, those concerning
expected financial performance and strategic and operational plans,
as well as assumptions, expectations, predictions, intentions or
beliefs about future events. You are cautioned that any such
forward-looking statements are not guarantees of future performance
and that a number of risks and uncertainties could cause actual
results to differ materially from those anticipated in the
forward-looking statements. Please see the risks identified in this
release or in Calpine's reports and registration statements filed
with the Securities and Exchange Commission, including, without
limitation, the risk factors identified in its Annual Report on
Form 10-K for the year ended December 31, 2008, and its Quarterly
Report on Form 10-Q for the quarter ended June 30, 2009. These
filings are available by visiting the Securities and Exchange
Commission's web site at www.sec.gov or Calpine's web site at
www.calpine.com. Actual results or developments may differ
materially from the expectations expressed or implied in the
forward-looking statements, and Calpine undertakes no obligation to
update any such statements.
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