The company, based in Houston, says the 7.5 percent notes are due in 2021. They are guaranteed by each of Calpine’s current and future subsidiaries that are guarantors under its credit facility.
Proceeds from the placement were used to repay part of its term loan borrowings under the current credit facility, Calpine says.
The company’s geothermal facility at the Geysers in the Mayacamas Mountains, 70 miles north of San Francisco, has 725MW of active installed capacity.
Calpine sells wholesale power, steam, renewable energy credits and ancillary services to its customers including utilities, independent electric system operators and retail power providers.
It
