25.02.04

25.2.2004: Meldung: Calpine Corp. Cancels Offerings to Refinance Subsidiary

Calpine Cancels Offerings to Refinance CCFC II Debt
Tuesday February 24, 8:32 am ET

Calpine Corporation today announced that its wholly owned subsidiary Calpine Generating Company, LLC (CalGen), formerly Calpine Construction Finance Company II, LLC (CCFC II), has canceled its offerings of approximately $2.3 billion of secured term loans and secured notes due to current market conditions.

As previously announced, the offerings were intended to refinance the existing CCFC II indebtedness that matures in November 2004. The company is evaluating different financing alternatives and remains confident that it will be able to refinance this indebtedness prior to its maturity.
Calpine Corporation is a leading North American power company dedicated to providing electric power to wholesale and industrial customers from clean, efficient, natural gas-fired and geothermal power facilities. The company was founded in 1984 and is publicly traded on the New York Stock Exchange under the symbol CPN. For more information about Calpine, visit www.calpine.com.

This news release discusses certain matters that may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the intent, belief or current expectations of Calpine Corporation ("the Company") and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results such as, but not limited to, the risks identified from time-to-time in the Company"s reports and registration statements filed with the SEC, including the risk factors identified in its Annual Report on Form 10-K for the year ended December 31, 2002, its Form 8-K filed on October 23, 2003, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2003, which can be found on the Company"s website at www.calpine.com. All information set forth in this news release is as of today"s date, and the Company undertakes no duty to update this information.


Source: Calpine Corporation
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