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September 2006
Curtis Represents Calpine Construction Finance Company, L.P. in Connection with Successful Consent Solicitations


Curtis represented Calpine Construction Finance Company, L.P. (“CCFC”) a non-debtor subsidiary of Calpine Corp., a Chapter 11 debtor-in-possession with its case pending in the United States Bankruptcy Court for the Southern District of New York, in connection with the successful solicitation by CCFC for consents to certain amendments to the indenture governing CCFC’s US$415 million aggregate principal amount of Second Priority Senior Secured Floating Rate Notes Due 2011 and the credit agreement governing its US$385 million First Priority Senior Secured Institutional Term Loans due 2009. The consent solicitation was launched on August 22, 2006, and the requisite consents were received on August 25, 2006. The amendments: (i) provide for a resolution of certain defaults and events of default resulting from, among other things, the non-payment by Calpine Energy Services, L.P. (“CES”) of certain amounts to CCFC under an Index Based Gas Sale and Power Purchase Agreement between CES and CCFC, and (ii) provide CCFC with relief from certain obligations under the indenture and credit agreement during the pendency of the Calpine Corp. bankruptcy cases. Curtis was also counsel to CCFC in connection with two other successful CCFC consent solicitations in March and June 2006.

The engagement was led by partners Dan Lenihan and Steven Reisman. Other members of the Curtis team included counsel Kathryn Alisbah and associates Susana Namnum, Evan Borenstein, Andrew Thau, Azish Filabi and Douglas Glazer.

Curtis continues to act as conflicts counsel to Calpine Corp., et al. in various aspects of its Chapter 11 cases.

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