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

,

Citibank

,

Credit Suisse First Boston

,

Deutsche Bank

and

Toronto-Dominion

.