Calpine upsizes corporate revolver to $1.8 billion through June 2020

By Susanna Moon

Chicago, Dec. 1 – Calpine Corp. increased its corporate revolver to about $1.8 billion through June 2020.

The revolver upsizing was concurrent with the company’s acquisition of Noble Americas Energy Solutions, LLC for $800 million plus working capital, according to a company announcement.

The acquisition was funded with cash on hand and a $550 million one-year term loan priced at Libor plus 175 basis points, the release noted.

The company said it plans to repay the term loan in 2017 using proceeds of asset sales and cash from operations.

Calpine is a Houston-based generator of electricity from natural gas and geothermal resources. Noble Americas Energy is a San Diego-based supplier of power to commercial and industrial retail customers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.