Calpine Corp. held a lender call this morning for a $550 million term loan B to refinance a chunk of its senior secured debt.

Credit Suisse is left lead on the deal, which has a tenor of seven years.

Price talk is 250 basis points over Libor with a 0% index floor and an original issue discount of 99.

Commitments are due by Aug. 1 at 5pm EDT.

Calpine will use the proceeds to repay a term loan B-7 it issued in May 2016, which is due to mature in 2023 (PFR, 5/26/16).

The independent power producer's senior secured debt is rated Ba2/BB/BB+ by Moody's Investors Service, S&P Global Ratings and Fitch Ratings. The company also has a layer of unsecured corporate debt, rated B2/B/BB-.

The content you are trying to view is restricted for Power Finance & Risk subscribers.

To continue reading, please log in using the login box in the upper right corner of this page, subscribe or take a free trial.


Set up your account today for full access to Power Finance & Risk.

Join our readership!


Free Trial

Want unlimited access, but don't feel quite ready to subscribe?

Start your free trial today!

Free Trial