Article: Orion Power Announces Equity and Convertible Debt Offerings.

BALTIMORE, May 11 /PRNewswire/ --

Orion Power Holdings, Inc. (NYSE: ORN), an independent electric power generating company, today announced that it has filed a registration statement pursuant to the Securities Act of 1933 relating to its proposed sale of 13,000,000 shares of its common stock and $200 million of convertible debt. The equity offering includes approximately 10.4 million shares to be sold by Orion Power and approximately 2.6 million shares to be sold by certain selling shareholders. The convertible debt will have a maturity of seven years, non-callable for four years, thereafter callable at a premium and declining to par. At any time prior to ...

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