(Source: Business Wire)
Calpine Corporation (NYSE:CPN) today announced the closing of its
offering of $1.2 billion in aggregate principal amount of 7.25% Senior
Secured Notes due 2017 in a private placement to holders of term loans
under its existing credit facility for a like principal amount of term
loans outstanding under such credit facility. The notes and related
guarantees are 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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