Calpine scraps $2.3 billion loan and junk bond sale

Awards 2004

The decision to scrap the offering is something of a turnaround for the energy company, which until recently enjoyed significant success in tapping the capital markets.Calpine initially announced the financing package in early February but cancelled the offering 22 days later. The offerings was meant to include approximately $1.3 billion of non-recourse, first priority secured institutional term loans and approximately $1 billion of non-recourse, second-priority secured notes. CalGen intende

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