Calpine Can Repay $646 Million, Judge Says

Calpine Corp. can repay $646 million in bond debt, a judge ruled, leaving until later a decision on whether it must add a premium of as much as $95.5 million.

A U.S. Bankruptcy judge in New York issued his ruling after hearing the power plant owner’s request to repay the debt with proceeds of an asset sale and a loan. The company said the debt was costing it $2 million a month in interest and fees.