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Calpine Corporation, the split-rated California-based power company, raised almost $2bn equivalent through a five tranche, four currency offering this week, partly through its Calpine Canada Energy Finance subsidiary. Two dollar issues were re-opened, the 8.5% 2008 issue and the 8.5% 2011, adding $530m and $850m, respectively. Credit Suisse First Boston, bookrunner on the dollar offerings, also ran the sterling and euro notes. The £200m 10 year tranche was priced to yield 9%, while the Eu175m seven year tranche carried an 8.375% coupon and was priced at par. Over 70 accounts participated across the European tranches, many investors buying both.

EuroWeek understands Crédit Agricole Indosuez has hired a second senior securitisation official from Nomura. Henrik Kristensen, a senior stucturer at the Japanese bank, is thought to be joining James Drayton, who also left Nomura last week. They will partner Peter Kappel, a director at Dresdner Bank who headed up its Europe securitisation practice. He resigned last week to join CAI.