Securities and Exchange Commission
Washington, DC 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act 1934
Date of Report October 28, 1997
(Date of earliest event reported)
CalEnergy Company, Inc.
(Exact name of registrant as specified in its charter)
Delaware 1-9874 94-2213782
(State of other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
302 South 36th Street, Suite 400, Omaha, NE 68131
(Address of principal executive offices) Zip Code
Registrant's Telephone Number, including area code: (402) 341-4500
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events
On October 28, 1997, the Registrant announced that it had
closed the sale of $350 million aggregate principal amount of its
7.63% Senior Notes (the "Notes") due 2007. A copy of the press
release issued by the Registrant is set forth as Exhibit 1 hereto
and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
Exhibit 1 - Press Release dated October 28, 1997
SIGNATURE
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.
CalEnergy Company, Inc.
By: \s\ Douglas L. Anderson
Douglas L. Anderson
Assistant General Counsel
and Assistant Secretary
Dated: November 3, 1997
FOR IMMEDIATE RELEASE EXHIBIT 1
Craig M. Hammett - Vice President, Chief Financial Officer (402) 341-4500
Jeffrey S. Laudin - Manager, Investor Relations (402) 341-4500
CalEnergy Closes $350 Million 7.63% Senior Note Offering
OMAHA, NE, October 28, 1997: CalEnergy Company, Inc.
("CalEnergy" or the "Company") (NYSE, PCX and LSE Symbol: CE)
announced today that it closed the sale of $350 million aggregate
principal amount of its 7.63% Senior Notes due 2007 ("Notes").
The notes have been rated BB+, Bal and BBB- by Standard & Poor's,
Moody's and Duff & Phelps, respectively.
The Company will use the net proceeds from the $350 million
Senior Note Offering, together with approximately $700 million in
net proceeds from the issuance of 19.1 million shares of common
stock which closed on October 17 and general corporate funds of
the Company, to complete the acquisition of all of the interests
of Kiewit Diversified Group Inc. ("KDG") in the various
international power generation projects ("Joint Venture Energy
Projects") which are jointly owned with the Company and managed
by the Company, as well as the repurchase of all of KDG's
outstanding ownership interests in the Company's Common Stock.
The KDG acquisition agreement provides that the Company will pay
$1,155,000,000 for KDG's ownership interest in the Joint Venture
Energy Projects and the Company's Common Stock. The closing
under the KDG acquisition agreement is expected to occur in
January, 1998.
The Company, which manages and owns interests in over 5,000
net MW of power generation facilities in operation, construction
and development worldwide, currently operates 20 generating
facilities and also supplies and distributes electricity to 1.5
million customers.
www.calenergy.com
# # #
