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 13, 1998
(Date of earliest event reported)
Salton Sea Funding Corporation
(Exact name of registrant as specified in its charter)
Delaware 33-95538 47-0790493
(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 October 13, 1998, the Registrant completed an institutional
placement of $285 million principal amount of its 7.45% Senior
Secured Series F Bonds due November 30, 2018. These Bonds are
secured by the stock of the Registrant.
Proceeds from the issuance of Funding Corporation Bonds will
be used to fund construction of two new geothermal projects at the
Salton Sea totaling 59MW, to partially fund the costs of
construction of the related 30,000 metric tonne/year Zinc Recovery
Project, to fund a portion of the costs associated with the upgrade
of certain brine processing facilities and for other capital
improvements to the steamfield and related facilities at the
existing Salton Sea projects.
The Funding Corporation Bonds have received investment grade
ratings from Standard & Poor's and Moody's Investor Service of BBB-
and Baa2, respectively.
Certain information included in this report contains forward-
looking statements made pursuant to the Private Securities
Litigation Reform Act of 1995 ("Reform Act"). Such statements are
based on current expectations and involve a number of known and
unknown risks and uncertainties that could cause the actual results
and performance of the Registrant to differ materially from any
expected future results or performance, expressed or implied , by
the forward-looking statements.
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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.
Salton Sea Funding Corporation
By: \s\ Douglas L. Anderson
Douglas L. Anderson
Assistant Secretary and
Assistant General Counsel
Dated: October 13, 1998
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