Calpine launches $700 million term B-5, $730 million term B-10

By Sara Rosenberg

New York, Jan. 16 – Calpine Corp. launched on Tuesday morning without a lender call a $700 million term loan B-5 due December 2027 and a $730 million term loan B-10 due January 2031, according to a market source.

Price talk on the term loan B-5 is SOFR plus 200 basis points with a 0% floor and an original issue discount of 99.75 to par, and talk on the term loan B-10 is SOFR plus 200 bps with a 0% floor and a discount of 99.5 to 99.75, the source said.

BMO Capital Markets is the left lead arranger on the deal.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to reprice an existing term loan B-5 due December 2027 and to amend and extend an existing upsized term loan B-10 due August 2026.

Calpine is a Houston-based provider of power generation services.

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