Calpine Deal Reworked

The debtor-in-possession for the bankrupt power-plant owner Calpine Corp. was reworked last week with $50 million shifted from the second lien to the first lien, and the spread on the second lien cut by 50 basis points.

  • 10 Feb 2006
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The debtor-in-possession for the bankrupt power-plant owner Calpine Corp. was reworked last week with $50 million shifted from the second lien to the first lien, and the spread on the second lien cut by 50 basis points. A banker said both tranches were oversubscribed so the more expensive second lien was downsized so the company would pay less interest. The reconfigured deal now consists of a $1 billion revolver priced at LIBOR plus 2 1/4%; a $400 million term loan "B" priced at LIBOR plus 2 1/4% and a $600 million second lien priced at LIBOR plus 4%. Deutsche Bank and Credit Suisse are leading the financing.

Calls to Deutsche Bank and Credit Suisse were not returned. A spokesman at Calpine declined comment.

  • 10 Feb 2006

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%