With $2 billion in debtor-in-possession (DIP) financing from two major banks, San Jose, CA-based Calpine Corp. as widely expected filed for voluntary Chapter 11 bankruptcy Tuesday in the same federal court in lower Manhattan in which Enron Corp. four years earlier made a similar filing.
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Court Grants Mirant $500M in DIP Financing
A bankruptcy court granted energy merchant Mirant Corp. $500 million in debtor-in-possession (DIP) financing on Monday. The company had asked the court to approve the financing, which will be provided through a loan from General Electric Capital Corp., to supplement its cash on hand to fund its merchant power and marketing and trading operations.
October 27, 2003
Court Grants Mirant $500M in DIP Financing
A bankruptcy court granted energy merchant Mirant Corp. $500 million in debtor-in-possession (DIP) financing on Monday. The company had asked the court to approve the financing, which will be provided through a loan from General Electric Capital Corp., to supplement its cash on hand to fund its merchant power and marketing and trading operations.
October 22, 2003
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