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 December 15, 1998
(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)
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Item 5. Other Events
On December 15, 1998, the registrant announced that, acting
pursuant to authorization of its Board of Directors, it had
irrevocably called for redemption on January 15, 1999 all of its
outstanding 10 1/4% Senior Discount Notes due 2004.
Pursuant to the provisions of the Note Indenture between
CalEnergy and IBJ Schroder Bank & Trust Company, as Trustee, the
Notes will be redeemed, in full, on January 15, 1999 at 105.125% of
the principal amount thereof plus accrued and unpaid interest of
$51.25 per $1,000 principal amount of the Notes, resulting in an
aggregate redemption price per $1,000 principal amount of the Notes
of $1,102.50.
Payment of the Notes being redeemed will be made only upon
presentation and surrender of the Notes by hand or by mail to the
Trustee as follows: IBJ Schroder Bank & Trust Company, One State
Street, Securities Processing Window, SC-1, New York, New York
1004. Any questions relating to this Notice of Redemption or the
loss of a Note should be directed to the Customer Service
Department at IBJ Schroder Bank & Trust Company at (212) 858-2040.
The Notes will no longer be deemed outstanding on and after January
15, 1999, interest on the Notes will cease to accrue and all rights
with respect to the Notes will cease, except only the right of the
holders thereof to receive the redemption price.
Item 7. Financial Statements and Exhibits
Exhibit 1 - Press Release dated December 15, 1998
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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/ Steven A. McArthur
Steven A. McArthur
Executive Vice President and
General Counsel
Dated: December 15, 1998
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Exhibit 1
FOR IMMEDIATE RELEASE
Craig M. Hammett - Senior Vice President, Chief Financial Officer 402-341-4500
Patti McAtee - Director, Corporate Communications 402-341-4500
Kate Inverarity - Brunswick 212-333-3810
CalEnergy Announces Notice of Redemption of the Company's
10 1/4% Senior Discount Notes Due 2004
OMAHA, NE, December 15, 1998: CalEnergy Company, Inc.
("CalEnergy" or the "Company") (NYSE: CE; PCX and London)
announced today that the Company called for redemption of all its
outstanding 10 1/4% Senior Discount Notes due 2004 (collectively, the
"Notes"). Pursuant to the provisions of the Note Indenture,
between CalEnergy and IBJ Schroder Bank & Trust Company, as
Trustee, the Notes will be redeemed, in full, on January 15, 1999
at 105.125% of the principal amount thereof plus accrued and unpaid
interest of $51.25 per $1,000 principal amount of the Notes,
resulting in an aggregate redemption price per $1,000 principal
amount of the Notes of $1,102.50.
Payment of the Notes being redeemed will be made only upon
presentation and surrender of the Notes by hand or by mail to the
Trustee as follows: IBJ Schroder Bank & Trust Company, One State
Street, Securities Processing Window, SC-1, New York, New York
10004. Any questions relating to this Notice of Redemption or the
loss of a Note should be directed to the Customer Service
Department at IBJ Schroder Bank & Trust Company at (212) 858-2040.
The Notes will no longer be deemed outstanding on and after January
15, 1999, interest on the Notes will cease to accrue and all rights
with respect to the Notes will cease, except only the right of the
holders thereof to receive the redemption price.
CalEnergy is a global energy company that manages and owns
interests in over 5,000 net megawatts of power generation
facilities in operation, construction and development worldwide.
The Company develops and produces energy from diversified fuel
sources including geothermal, natural gas and hydroelectric.
Through its subsidiary Northern Electric, CalEnergy supplies and
distributes electricity and gas to approximately 2.2 million
customers in the United Kingdom. CalEnergy conducts business in
the U.S., U.K., the Philippines, Indonesia, Poland and Australia,
and employs more than 4,300 people worldwide. For the year ended
December 31, 1997, CalEnergy generated revenues of over $2.2
billion and had assets of approximately $7.5 billion.
www.calenergy.com
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