Calpine told the U.S. Bankruptcy Court in Manhattan
June 20that the credit markets were offering an amazing deal that might not last.
"It is impossible to know, and risky to assume, that the low interest rates and favorable terms currently offered by the capital markets will continue," Calpine said in documents filed with the court
Calpine Debt Another Weight On Wall Street Balance Sheets
Add one more to the list of companies that locked in cheap debt from Wall Street banks shortly before credit markets tanked at the end of July.
While much of the cheap corporate debt banks have issued in the past year has been used to help finance headline-grabbing leveraged buyouts, Calpine's deal shows how Wall Street's eagerness to lend extended beyond the buyout boom.
If credit markets don't recover soon,