White & Case advises Calpine on $1.5 Billion of senior notes offerings

Global law firm White & Case LLP has advised Calpine Corporation on the private placement of $650 million in aggregate principal amount of its 4.625% senior notes due 2029 and $850 million in aggregate principal amount of its 5.000% senior notes due 2031. Each offering was upsized at pricing from an initial tranche size of $500 million. White & Case also advised on concurrent tender offers to repurchase and redemptions of the company’s 5.550% senior notes due 2024 and 5.750% notes due 2025.

Calpine is America’s largest generator of electricity from natural gas and geothermal resources and one of the largest retail providers of power.

The White & Case Capital Markets team was led by partners Gary Kashar and Andrew Weisberg, and included partner David Dreier, counsel Isaac Tendler and Heidi Schmid, and associates Abigail Simon, Cesar Briceno Lopez, Kate Warrick, Ami Shin, Appy Ali, Kyle Ezzedine and Robin Heszkel (all in New York).

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