21.10.2004: Meldung: Calpine Prices $360 Million Preferred Equity Offering Relating Saltend Project

Calpine Corporation"s indirect, wholly owned subsidiary Calpine (Jersey) Limited has priced its $360 million offering of two-year, Redeemable Preferred Shares at U.S. LIBOR plus 700 basis points. Calpine expects the transaction to close on Friday, Oct. 22, 2004.

The proceeds of the offering of the Redeemable Preferred Shares will be initially loaned to Calpine"s 1,200-megawatt Saltend cogeneration power plant located in Hull, Yorkshire, England, and the payments of principal and interest on such loan will fund payments on the Redeemable Preferred Shares. The net proceeds of the Redeemable Preferred Shares offering will ultimately be used as permitted by the company"s indentures.

The Redeemable Preferred Shares have not been registered under the Securities Act of 1933, and may not be offered in the United States absent registration or an applicable exemption from registration requirements. The Redeemable Preferred Shares have been offered in a private placement in the United States under Regulation D under the Securities Act of 1933 and outside of the United States pursuant to Regulation S 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.

Source: Calpine Corporation
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