Calpine Scores $5B For Refinancing

Law360, New York (March 30, 2007, 12:00 AM EDT) -- Bankrupt energy provider Calpine Corp. has secured an additional $5 billion in funding that will allow the company to refinance its debts and save $100 million a year.

The $5 billion consists of a $4 billion secured term loan and a $1 billion senior secured revolving credit facility, both financed by a group of banks led by Credit Suisse, Goldman Sachs, JP Morgan and Deutsche Bank.

In addition to replacing Calpineā€™s current $2 billion debtor-in-possession loan, the $5 billion will also repay $2.5 billion of debt...
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