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Filed Pursuant to Rule 424(b)(3)
Registration File Nos. 333-45615
333-45615-01
CALENERGY CAPITAL TRUST III
CALENERGY COMPANY, INC.
PROSPECTUS SUPPLEMENT DATED JUNE 8, 1998
TO PROSPECTUS DATED MARCH 2, 1998
The section entitled "Selling Holders" on pages 54-56 of the Prospectus is
hereby amended and restated in its entirety as follows:
SELLING HOLDERS
The Convertible Preferred Securities were originally issued by the Trust and
sold by Credit Suisse First Boston Corporation and Lehman Brothers Inc. (the
"Initial Purchasers"), in a transaction exempt from the registration
requirements of the Securities Act, to persons reasonably believed by such
Initial Purchasers to be "qualified institutional buyers" (as defined in Rule
144A under the Securities Act) and outside the United States to persons other
than U.S. persons in reliance upon Regulation S under the Securities Act. The
Selling Holders may from time to time offer and sell pursuant to this Prospectus
any or all of the Convertible Preferred Securities, any Convertible Junior
Subordinated Debentures and Common Stock issued upon conversion of the
Convertible Preferred Securities. The term Selling Holder includes, without
duplication, the holders listed below and the beneficial owners of the
Convertible Preferred Securities and their transferees, pledgees, donees or
other successors.
The following table sets forth information with respect to the Selling Holders
of the Convertible Preferred Securities as of February 10, 1998, and has been
provided to the Trust and the Company by such Selling Holders.
Number of
Convertible
Preferred
Selling Holder Securities
-------------- ----------
Merrill Lynch Pierce Fenner & Smith, Inc......................... 498,100
Lipper Convertibles, L.P......................................... 430,000
Argent Classic Convertible Arbitrage Fund (Bermuda L.P.)(1)...... 325,000
Toronto Dominion (New York), Inc................................. 306,000
Natwest Securities Limited....................................... 270,000
Credit Suisse First Boston Corporation........................... 215,000
Shepherd Investment International Ltd. (17)...................... 204,750
Stark International (17)......................................... 204,750
HSBC Securities Inc.............................................. 200,600
Security Insurance Company of Hartford........................... 200,000
Swiss Bank Corp.-London Branch (2)............................... 175,000
Sogen International Fund (3)..................................... 165,000
AIM Charter Fund................................................. 150,000
MFS Series Trust V-MFS Total Return Fund (4)..................... 139,500
BNP Arbitrage, SNC (5)........................................... 112,850
Van Kampen American Capital Harbor Fund (6)...................... 100,000
Surfboard and Co. (7)............................................ 100,000
The Northwestern Mutual Life Insurance Company (8)............... 100,000
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Number of
Convertible
Preferred
Securities
----------
SBC Warburg Dillon Read Inc...................................... 90,000
Allstate Insurance Company....................................... 78,000
Tennessee Consolidated Retirement System......................... 75,000
Lutheran Brotherhood............................................. 75,000
Bear Stearns & Co. Inc........................................... 71,000
LB Series Fund, Inc. High Yield Portfolio (9).................... 60,000
The Travelers Indemnity Co....................................... 58,300
Pitney Bowes, Inc. Retirement Fund (10).......................... 55,000
Black Diamond Partners, L.P. (11)................................ 51,350
Black Diamond Ltd. (11).......................................... 49,640
The Retail Clerks Pension Plan................................... 40,000
Lutheran High Yield Fund (12).................................... 40,000
The Travelers Insurance Co....................................... 37,500
AIM Blue Chip Fund............................................... 35,800
Delaware Group Dividend and Income Fund, Inc. (20) .............. 31,600
Lehman Brothers Inc.............................................. 30,000
Bank of America Pension Plan (13)................................ 30,000
MLPFS Safekeeping (14)........................................... 30,000
KA Management Limited............................................ 29,071
Forest Fulcrum Fund LP........................................... 26,900
AIM V.I. Growth & Income......................................... 25,000
Pacific Life Insurance Co........................................ 25,000
Deeprock & Co. (13).............................................. 25,000
Duck Bill & Co. (13)............................................. 25,000
MFS Series Trust IV-MFS Utilities Fund (5)....................... 24,900
KA Trading LP.................................................... 21,929
General Motors Employees Domestic Group Pension Trust............ 20,000
McMahan Securities Co. L.P....................................... 19,700
Forest Global Convertible Fund Series A-5........................ 18,900
Delaware Group Global Dividend and Income Fund, Inc. (20)........ 16,000
Commonwealth Life Insurance Company-(Camden-Teamsters
Non-Enhanced) (13)............................................. 15,000
Morehead Equity Fiduciary Trust Co. (15)......................... 15,000
MFS/Sunlife Series Trust-Utilities Series (5).................... 11,600
Merrill Lynch World Income Fund, Inc............................. 10,000
Century National Insurance Company............................... 10,000
United National Insurance Company................................ 10,000
Deutsche Bank New York Custody Services.......................... 10,000
The Class IC Company, Ltd........................................ 10,000
Socgen International SICAV (3)................................... 7,500
FMC Master Retirement Fund (3)................................... 7,000
Worldwide Transactions Limited (16).............................. 5,380
Guaranty National Insurance Company.............................. 5,000
Double Black Diamond, L.P. (11).................................. 4,435
Highbridge Capital Corp. (11).................................... 4,430
The Travelers Life and Annuity Co................................ 4,200
MFS Variable Insurance Trust-MFS Utilities Series (5)............ 3,000
First Montauk Securities......................................... 3,000
Deutsche Morgan Grenfell Inc..................................... 3,000
Forest Global Convertible Fund Series B-2........................ 2,700
Gersec Trust Reg................................................. 2,000
Delaware Group Premium Fund, Inc. Convertible
Securities Series (20)......................................... 2,000
LLT Limited (18)................................................. 1,500
LDG Limited (19)................................................. 1,200
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Number of
Convertible
Preferred
Securities
----------
Delaware Group Premium Fund, Inc. Convertible
Fund Series (20)............................................... 1,200
MFS Series Trust I-MFS Convertible Securities Fund (5)........... 100
Other Holders.................................................... 138,615
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Total................................................... 5,400,000
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(1) Argent Financial Group (Bermuda) Ltd. may also be deemed beneficial
owner of these Convertible Preferred Securities.
(2) SBC Warburg Dillon Read Inc. may also be deemed beneficial owner of these
Convertible Preferred Securities.
(3) Societe Generale Asset Management Corp. may also be deemed beneficial owner
of these Convertible Preferred Securities.
(4) MFS Advisors may also be deemed beneficial owner of these Convertible
Preferred Securities.
(5) BNP/Cooper Neff Advisors, Inc. may also be deemed beneficial owner of these
Convertible Preferred Securities.
(6) Van Kampen American Capital Asset Management, Inc. may also be deemed
beneficial owner of these Convertible Preferred Securities.
(7) California Public Employees' Retirement System may also be deemed
beneficial owner of these Convertible Preferred Securities.
(8) Northwestern Mutual Life Insurance Company Group Annuity Separate Account
may also be deemed beneficial owner of 20,000 of these Convertible
Preferred Securities.
(9) Lutheran Brotherhood may also be deemed beneficial owner of these
Convertible Preferred Securities.
(10) GEM Capital Management, Inc. may also be deemed beneficial owner of these
Convertible Preferred Securities.
(11) Carlson Capital, L.P. may also be deemed beneficial owner of these
Convertible Preferred Securities.
(12) Lutheran Brotherhood Research Corp. may also be deemed beneficial owner of
these Convertible Preferred Securities.
(13) Camden Asset Management LP may also be deemed beneficial owner of these
Convertible Preferred Securities.
(14) Merrill Lynch Pierce Fenner & Smith, Inc. may also be deemed beneficial
owner of these Convertible Preferred Securities.
(15) Fiduciary Trust Company International may also be deemed beneficial owner
of these Convertible Preferred Securities.
(16) Carlson Offshore Advisors, L.P. may also be deemed beneficial owner of
these Convertible Preferred Securities.
(17) Staro Asset Management may also be deemed beneficial owner of these
Convertible Preferred Securities.
(18) Forest Investment Management, L.P. may also be deemed beneficial owner of
these Convertible Preferred Securities.
(19) TQA Investor, LLC may also be deemed beneficial owner of these Convertible
Preferred Securities.
(20) Delaware Management Company, a series of Delaware Management Business
Trust, may also be deemed beneficial owner of these Convertible Preferred
Securities.
None of the Selling Holders has, or within the past three years has had, any
position, office or other material relationship with the Trust or the Company or
any of their predecessors or affiliates, except that Credit Suisse First Boston
Corporation and Lehman Brothers Inc. acted as Initial Purchasers in the Original
Offering and Credit Suisse First Boston Corporation, Merrill Lynch Pierce Fenner
& Smith, Inc., Bear, Stearns & Co. Inc.,
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Lehman Brothers Inc. or their respective affiliates have provided, and may
continue to provide investment banking or financial advisory services to the
Company. Because the Selling Holders may, pursuant to this Prospectus, offer all
or some portion of the Convertible Preferred Securities, the Convertible Junior
Subordinated Debentures or the Common Stock issuable upon conversion of the
Convertible Preferred Securities, no estimate can be given as to the amount of
the Convertible Preferred Securities, the Convertible Junior Subordinated
Debentures or the Common Stock issuable upon conversion of the Convertible
Preferred Securities that will be held by the Selling Holders upon termination
of any such sales. In addition, the Selling Holders identified above may have
sold, transferred or otherwise disposed of all or a portion of their Convertible
Preferred Securities since the date on which they provided the information
regarding their Convertible Preferred Securities pursuant to transactions exempt
from the registration requirements of the Securities Act.
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