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Calpine Gets $373M For Power Plant Upgrade
Calpine has acquired a $373 million loan to finance the development of its Los Esteros Critical Energy Facility in San Jose, California.
Calpinehas acquired a $373 million loan to finance the development of itsLos Esteros Critical Energy Facilityin San Jose, California. The U.S. power company will also seek to buy back nearly $300 million in shares of its common stock.
The obtained funding includes $68 million in letter of credit facilities and a $305 million construction loan, which will transform into a 10-year term loan as commercial operations commence.Credit Agricole CIB,Banco Bilbao Vizcaya Argentaria,Bayerische LandesbankandWest LBjointly arranged the loan facility.
Click here for the release fromBusiness Wire.