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Calpine Plans to Seek $2 Billion in Loans

January 19, 2006|From Bloomberg News

Calpine Corp. will seek $2 billion of loans as early as next week to help it continue operating, the company said.

Deutsche Bank and Credit Suisse Group are arranging the funds and may meet to syndicate the loans to more lenders next week, Calpine said. It is seeking $1 billion of revolving credit and a $350-million term loan.

San Jose-based Calpine, which also wants a $650-million second-lien term loan, will use the so-called debtor-in-possession financing while it operates in bankruptcy protection, it said.

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