Constellation Energy Completes Exchange Offer and Retires $2.3 Billion Calpine Notes

Reuters
2026.01.15 21:06
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Constellation Energy Corporation has completed a merger with Calpine Corporation, making it a wholly owned subsidiary. As part of this, Constellation retired $2.29 billion in Calpine Notes through exchange offers and consent solicitations. New senior notes were issued, including 2029 and 2031 maturities, which are subject to optional redemption and governed by an indenture with U.S. Bank Trust Company. Supplemental indentures were executed to reflect these changes.