Calpine Closes $1.3 Billion Senior Secured Term Loan

Calpine Corp. CPN announced today that it has closed on a $1.3 billion first lien senior secured term loan. The Term Loan, which amortizes at a rate of 1% per year, bears interest at LIBOR plus 3.25% per annum (subject to a LIBOR floor of 1.25%) and matures in 2018.