(Bloomberg) -- Calpine Corp., the bankrupt power generator, said it reached a preliminary settlement with a committee of bondholders that will eliminate a large group of duplicate claims filed in its bankruptcy case.
The settlement, which requires U.S. bankruptcy court approval, will reduce $12 billion in claims tied to bonds in a Calpine unit to a single claim of $3.5 billion, the San Jose, California-based company said in a statement distributed today by PRNewswire. The company said it will also seek approval from HSBC Bank USA, the indenture trustee on the bonds.
Read more at Bloomberg Bonds News
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