UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 24, 2004
CALPINE CORPORATION
(A Delaware Corporation)
Commission File Number: 001-12079
I.R.S. Employer Identification No. 77-0212977
50 West San Fernando Street
San Jose, California 95113
Telephone: (408) 995-5115
ITEM 5. OTHER EVENTS
NEWS RELEASE CONTACTS: 408-995-5115
Media Relations: Katherine Potter, X1168
Investor Relations: Rick Barraza, x1125
Calpine Cancels Offerings to Refinance CCFC II Debt
(SAN JOSE, Calif.), /PR Newswire - FirstCall/ Feb. 24, 2004 -- Calpine
Corporation (NYSE: CPN) 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.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CALPINE CORPORATION
By: /s/ Charles B. Clark, Jr.
-------------------------
Charles B. Clark, Jr.
Senior Vice President and Controller
Chief Accounting Officer
Date: February 24, 2004