18.10.05

18.10.2005: Meldung: Calpine Closes $300 Million Preferred Shares Offering

Calpine Corporation"s indirect, stand-alone subsidiary CCFC Preferred Holdings, LLC (CCFC Holdings) has received funding for its $300 million offering of 6-Year Redeemable Preferred Shares due 2011. Net proceeds from the offering of the Redeemable Preferred Shares will be used as permitted by Calpine"s existing bond indentures. CCFC Holdings repaid the $150 million of redeemable preferred shares due February 13, 2006 simultaneously with this closing.

CCFC Holdings indirectly owns six natural gas-fired, combined-cycle power plants with a combined estimated peak capacity of approximately 3,700 megawatts. Calpine and other Calpine affiliates are not responsible for the debts or other obligations of CCFC Holdings or other CCFC entities.

The Redeemable Preferred Shares have not been registered under the Securities Act of 1933, as amended, and may not be offered in the United States or any state absent registration or an applicable exemption from registration requirements. The Redeemable Preferred Shares were offered in a private placement in the United States under Section 4(2) and Regulation D under the Securities Act of 1933. This press release shall not constitute an offer to sell or the solicitation of an offer to buy. Securities laws applicable to private placements limit the extent of information that can be provided at this time.

About Calpine

A major power company, Calpine Corporation supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and three Canadian provinces, and is building a plant in Mexico. Its customized products and services include wholesale and retail electricity, natural gas, gas turbine components and services, energy management, and a wide range of power plant engineering, construction and operations services. Calpine was founded in 1984. It is included in the S&P 500 Index and is publicly traded on the New York Stock Exchange under the symbol CPN. For more information, visit http://www.calpine.com/.
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