SOURCE: Cleco Corp.

September 08, 2006 16:30 ET

Underwriters Exercise Option for Additional Shares of Cleco Corp. Common Stock

PINEVILLE, LA -- (MARKET WIRE) -- September 8, 2006 -- Cleco Corp. (NYSE: CNL) announced today that the underwriters of its recent common stock offering exercised their option to purchase 900,000 additional shares of common stock in full in late August. Cleco's net proceeds from the offering of 6.9 million shares of stock, including the additional option shares, totaled approximately $157.5 million.

Cleco plans to use the proceeds to help finance construction of the estimated $1 billion solid-fuel power plant at its Rodemacher Power Station in Boyce. Construction on the 600-megawatt unit started in the first quarter of 2006.

Cleco Corp. is a regional energy services company headquartered in Pineville, La. It operates a regulated electric utility that serves 267,000 customers across Louisiana. Cleco also runs a wholesale energy business that owns approximately 1,350 megawatts of generating capacity.

Contact Information

  • Investor Contacts:

    Cleco Corporation:
    Keith Crump
    (318) 484-7719

    Ryan Gunter
    (318) 484-7724

    Shareholder Services:
    Rodney Hamilton
    (318) 484-7593

    Analyst Inquiries:
    Dresner Corporate Services
    Kristine Walczak
    (312) 780-7205

    Media Contact:
    Cleco Corporation
    Michael Burns
    (318) 484-7663