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My way
01 November 2000
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[project finance]
[project finance]
[project financing]
[corporate finance]
You can't use the term ?project finance' in the presence of Calpine
Senior Vice-President for Finance Robert D. Kelly. ?The financial
model we use is a form of project finance. But we call it
construction financing rather than project finance and it shares
few of the characteristics of traditional project finance.
?The banks lend to the projects, and then we take it out in the
long-term capital markets at the Calpine Corporation level. Today,
we have $3.5 billion of construction project finance available in
the form of revolving project finance ? which is a misnomer in
itself. And as you use that capital and the plants are built, you
convert at the corporate level using a shelf, debt or equity ? or
whatever is the attractive product of the day.?
Kelly says Calpine has looked at the market from a number of
vantage points. ?We have talked about whether it is...
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