Calpine Closes $300 Million Preferred Shares Offering by CCFC Preferred Holdings
October 17 2005 - 9:30AM
PR Newswire (US)
SAN JOSE, Calif., Oct. 17 /PRNewswire-FirstCall/ -- Calpine
Corporation's (NYSE:CPN) 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. DATASOURCE: Calpine Corporation CONTACT: Katherine
Potter, Media Relations, +1-408-792-1162, or , or Karen Bunton,
Investor Relations, +1-408-792-1121, or , both of Calpine
Corporation Web site: http://www.calpine.com/
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