trending Market Intelligence /marketintelligence/en/news-insights/trending/N2VZ3mPbf7YcMN_vpEglxQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Calpine unit Geysers Power to offer senior notes

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Calpine unit Geysers Power to offer senior notes

Geysers Power Co. LLC plans to offer senior secured notes, series A, due 2039, and senior secured notes, series B, due 2039, in a private placement to qualified institutional buyers, according to an Oct. 17 news release.

The notes will be secured equally and ratably with the indebtedness under a new, seven-year, $320 million senior secured revolving credit facility and a new, 10-year, $400 million senior secured term loan.

Geysers Power plans to use proceeds from the offerings, together with borrowings under the new term loan facility and letters of credit, to fund a debt service reserve account and a major maintenance reserve account, pay costs associated with the offerings and entry into the new credit and term loan facilities; pay a dividend to Calpine Corp.; and fund working capital, ongoing capital requirements and for general corporate purposes.

Prior to consummating the notes offering, Geysers Power and certain other Calpine subsidiaries involved in geothermal generation will "each be released from current guarantee obligations in respect of Calpine Corporation's indebtedness and the related liens encumbering the Geysers assets will be released and no longer available to satisfy creditors of Calpine Corporation," the company said, adding that, "Neither Calpine Corporation nor any other affiliates of Calpine Corporation will guarantee the payment of the notes or will have any liability for any of [Geysers Power's] or the guarantors' obligations under the notes."

Geysers Power, a Calpine subsidiary, owns 13 Geysers geothermal power plants and related assets.