SAN JOSE, Calif., July 13 /PRNewswire-FirstCall/ -- Calpine Corporation
(NYSE: CPN) has completed the redemption of its outstanding 5% HIGH TIDES III
preferred securities, totaling $517.5 million, of which $115.0 million was
held by Calpine Corporation. The redemption price paid per each $50 principal
amount of HIGH TIDES III security was $50 plus accrued and unpaid
distributions to the redemption date in the amount of $0.50. All rights of
holders of the HIGH TIDES III have ceased, except the right of such holders to
receive the redemption price, which has been deposited with The Depository
Trust Company, and such HIGH TIDES III preferred securities have ceased to be
outstanding.
A major power company, Calpine Corporation supplies customers and
communities with electricity from clean, efficient, natural gas-fired and
geothermal power plants. Calpine owns, leases and operates integrated systems
of plants in 21 U.S. states, three Canadian provinces and in the United
Kingdom. Calpine was founded in 1984. It is included in the S&P 500 Index and
is publicly traded on the New York Stock Exchange under the symbol CPN. For
more information, visit www.calpine.com.
SOURCE Calpine Corporation
07/13/2005
CONTACT: Media Relations: Katherine Potter, ext. 1168, or Investor
Relations: Rick Barraza, ext. 1125, both of Calpine Corporation,
+1-408-995-5115
Web site: http://www.calpine.com
