Skip to main content

Calpine

(CPN)

received a $1 billion working capital credit facility from a group of banks.

Calpine said it can borrow up to $350 million under the year-long facility and use $1 billion as "letter-of-credit capacity." The company has an existing $400 million unsecured working capital credit facility that expires in May 2003.

The banks in the new credit facility include

Bank of Nova Scotia,

Bank of America,

Bayerische Landesbank Girozentrale

TheStreet Recommends

,

Citibank

,

Credit Suisse First Boston

,

Deutsche Bank

and

Toronto-Dominion

.