Calpine Announces Proposed Offering of Senior Notes

Apr 18, 2001, 01:00 ET from Calpine Corporation

    SAN JOSE, Calif., April 18 /PRNewswire/ -- Calpine Corporation (NYSE:   CPN)
 announced today the proposed offering of $1.5 billion of senior notes through
 its wholly owned special purpose finance company, Calpine Canada Energy
 Finance ULC.  These notes will be fully and unconditionally guaranteed by
 Calpine.
     Proceeds from the offering will be used to refinance existing debt,
 finance the construction and development of additional power generation
 facilities and for working capital and general corporate purposes.
     A registration statement relating to the senior notes has been filed with
 the Securities and Exchange Commission, but has not yet become effective.  The
 senior notes may not be sold, nor may offers to buy be accepted prior to the
 time that a registration statement relating to such securities becomes
 effective.  This press release shall not constitute an offer to sell or the
 solicitation of an offer to buy, nor shall there be any sale of these
 securities in any State in which such offer, solicitation or sale would be
 unlawful prior to registration or qualification under the securities laws of
 any such State.
     Based in San Jose, Calif., Calpine Corporation is dedicated to providing
 customers with reliable and competitively priced electricity.  Calpine is
 focused on clean, efficient combined-cycle, natural gas-fired generation and
 is the nation's largest producer of renewable geothermal energy.  To date, the
 company has approximately 31,200 megawatts of base load capacity and
 6,800 megawatts of peaking capacity in operation, under construction and
 announced development in 28 states and Alberta, Canada.  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 its website at
 www.calpine.com.
 
 

SOURCE Calpine Corporation
    SAN JOSE, Calif., April 18 /PRNewswire/ -- Calpine Corporation (NYSE:   CPN)
 announced today the proposed offering of $1.5 billion of senior notes through
 its wholly owned special purpose finance company, Calpine Canada Energy
 Finance ULC.  These notes will be fully and unconditionally guaranteed by
 Calpine.
     Proceeds from the offering will be used to refinance existing debt,
 finance the construction and development of additional power generation
 facilities and for working capital and general corporate purposes.
     A registration statement relating to the senior notes has been filed with
 the Securities and Exchange Commission, but has not yet become effective.  The
 senior notes may not be sold, nor may offers to buy be accepted prior to the
 time that a registration statement relating to such securities becomes
 effective.  This press release shall not constitute an offer to sell or the
 solicitation of an offer to buy, nor shall there be any sale of these
 securities in any State in which such offer, solicitation or sale would be
 unlawful prior to registration or qualification under the securities laws of
 any such State.
     Based in San Jose, Calif., Calpine Corporation is dedicated to providing
 customers with reliable and competitively priced electricity.  Calpine is
 focused on clean, efficient combined-cycle, natural gas-fired generation and
 is the nation's largest producer of renewable geothermal energy.  To date, the
 company has approximately 31,200 megawatts of base load capacity and
 6,800 megawatts of peaking capacity in operation, under construction and
 announced development in 28 states and Alberta, Canada.  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 its website at
 www.calpine.com.
 
 SOURCE  Calpine Corporation