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Calpine Pursuing Potential CCFC Debt Refinancing

04/22/2013

HOUSTON--(BUSINESS WIRE)--Apr. 22, 2013--Calpine Corporation (NYSE: CPN), the parent company of Calpine Construction Finance Company, L.P. (CCFC), today announced that CCFC is pursuing a potential debt refinancing pursuant to which CCFC intends to enter into a new senior secured term loan in an amount of approximately $1.055 billion. The proceeds of the refinancing, if effected, are anticipated to be used to redeem CCFC’s outstanding 8% Senior Secured Notes due in 2016 and related fees and expenses. The timing, size and terms of any potential refinancing and the use of proceeds thereof are subject to market and other conditions, and Calpine Corporation makes no assurance that such actions will take place.

This announcement does not constitute an offer to sell, or the solicitation of offers to buy, any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Calpine

Calpine Corporation generates more electricity than any other independent power producer in America, with a fleet of 93 power plants in operation or under construction, representing more than 27,000 megawatts of generation capacity. Serving customers in 20 states and Canada, we specialize in developing, constructing, owning and operating natural gas-fired and renewable geothermal power plants that use advanced technologies to generate power in a low-carbon and environmentally responsible manner. Our clean, efficient, modern and flexible fleet is uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, stricter environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid. We focus on competitive wholesale power markets and advocate for market-driven solutions that result in nondiscriminatory forward price signals for investors. Please visit www.calpine.com to learn more about why Calpine is a generation ahead – today.

Forward-Looking Information

Source: Calpine Corporation

Calpine Corporation
Media Relations:
Norma F. Dunn, 713-830-8883
norma.dunn@calpine.com
or
Investor Relations:
Bryan Kimzey, 713-830-8775
bryan.kimzey@calpine.com