Calpine Corp. plans to issue an additional $550 million of its 5.25% senior secured notes due 2026 in a private placement, according to a Dec. 4 release.
The proceeds, together with cash on hand and proceeds from a $1 billion first-lien term loan due January 2025, will be used to repay approximately $1.6 billion of outstanding borrowings under Calpine Construction Finance Co. LP's first-lien term loan facility with tranches maturing in 2020 and 2022.
The company previously issued 5.25% notes due 2026 on May 31, 2016.