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Non-Tech : Calpine
CPN 15.250.0%Mar 9 4:00 PM EST
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To: Howard Hoffman who wrote (9)7/25/2000 7:22:36 PM
From: Howard Hoffman  Read Replies (1) of 11
 
Calpine Announces $2.5 Billion Credit Facility to Finance Construction Program
SAN JOSE, Calif.--(BUSINESS WIRE)--July 24, 2000--Calpine Corp. (NYSE:CPN), the nation's leading independent power company, today announced plans to enter into a 2.5 billion revolving construction credit facility with a consortium of banks, including The Bank of Nova Scotia and Credit Suisse First Boston as lead arrangers. CIBC Inc., ING (U.S.) Capital LLC, Bank of America, TD Securities, Bayerische Landesbank, and Dresdner Bank will serve as co-arrangers. The four-year construction facility will be refinanced in the longer-term capital markets prior to its maturity. The company expects to finalize the credit facility during the third quarter of 2000.

"This construction facility further demonstrates Calpine's ability to execute its long-term program of building competitively-priced generating facilities in the dynamic U.S. power market," stated Bob Kelly, senior vice president-finance for Calpine. "We appreciate the confidence this prestigious consortium has in Calpine's progressive undertaking to repower America's aging power fleet and meet the growing demand for electricity."

Calpine entered into a similar 1 billion revolving construction credit facility in November 1999 --
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