Today's hot alert includes : Calpine Corporation (NYSE:CPN) Calpine Corporation Announces Upsizing and Pricing of Senior Secured Notes Offering
HOUSTON-Oct 15, 2009 -- Calpine Corporation (NYSE:CPN) today announced the pricing of its 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 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. 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. This offering is expected to close on October 21, 2009.
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