Calpine to get $100 million term loan for Metcalf Energy

By Sara Rosenberg

New York, May 10 - Metcalf Energy Center LLC, Calpine Corp.'s indirect subsidiary, plans to get a new $100 million senior term loan, according to a company news release.

Proceeds will be used to refinance Metcalf's existing $100 million non-recourse construction credit facility and complete construction of the Metcalf Energy Center power plant in San Jose, Calif.

No further details on the loan are being given out at this time, a company spokesperson told Prospect News.

Concurrent with the refinancing, Metcalf plans to sell $155 million of 51/2-year redeemable preferred shares

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