Calpine lifts revolving credit facility capacity to $2.02 billion

By Sarah Lizee

Olympia, Wash., April 5 – Calpine Corp. amended its revolving credit facility on Friday to increase the capacity by about $330 million, according to an 8-K filing with the Securities and Exchange Commission.

The increase brought the capacity to about $2.02 billion from about $1.69 billion previously.

As previously reported, the company recently got a new $950 million seven-year senior secured covenant-lite term loan B-9 priced at Libor plus 275 basis points.

Calpine used the proceeds from the new term loan to repay in full the $400 million first-lien senior secured term loan facility dated Feb. 3, 2017 and the $550 million first-lien senior secured term loan facility dated Dec. 15, 2015.

Calpine is a Houston-based generator of electricity from natural gas and geothermal resources.

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