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CALIFORNIA ENERGY ANNOUNCES CLOSING OF OFFERING OF 5 PERCENT CONVERTIBLE SUBORDINATED DEBENTURES

 OMAHA, Neb., June 28 /PRNewswire/ -- California Energy Company, Inc. (AMEX, PSE: CE) today announced the closing of the offering of its 5 percent convertible subordinated debentures in the amount of $100,000,000. The debentures, which are redeemable after three years at the option of the company, bear an interest rate of 5 percent, mature on July 31, 2000 and are convertible at the option of the holder at an initial conversion price of $22.50 per common share. This press release shall in no way constitute an offer to sell or the solicitation of an offer to buy the debentures, which have not been registered under the Securities Act.
 California Energy Company develops environmentally responsible power generating facilities nationally. Its five operating facilities currently produce in excess of 250 net megawatts.
 -0- 6/28/93
 /CONTACT: David L. Sokol, president and chief executive officer, 402-330-8900, or John G. Sylvia, vice president and chief financial officer, 402-330-8900, both of California Energy/
 (CE)


CO: California Energy Company, Inc. ST: Nebraska IN: UTL SU: OFR

AL -- MN013 -- 6366 06/28/93 15:19 EDT
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Publication:PR Newswire
Date:Jun 28, 1993
Words:182
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