Calpine Asks For $5B Replacement DIP Loan

Law360, New York (January 29, 2007, 12:00 AM EST) -- Energy provider Calpine Corp. has asked a bankruptcy court to approve a $5 billion replacement of the company’s debtor-in-possession loan in order to refinance its exit-funding and repay a chunk of debt.

In a motion filed in the U.S. Bankruptcy Court for the Southern District of New York, the company requested permission to obtain replacement post-petition financing, refinance existing post-petition financing, repay certain pre-petition debt, object to certain claims, and determine the value of certain claims filed in the Chapter 11 case.

Calpine labeled the $5...
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