Item 8.01. Other Events
As disclosed in Constellation Energy's Current Report on Form 8-K dated
December 17, 2008, in connection with the termination of the merger agreement
with MidAmerican Energy Holdings Company ("MidAmerican") and the conversion of
Series A Preferred Stock held by MEHC Investment, Inc. ("MEHC Investment"), an
affiliate of MidAmerican, Constellation Energy delivered to MEHC Investment a
14% Senior Note dated December 17, 2008 in the aggregate principal amount of
$1.0 billion (the "Note"). On January 12, 2009, Constellation Energy repaid the
Note in full together with accrued and unpaid interest through January 12, 2009
of approximately $5.0 million. Giving effect to the Note repayment,
Constellation Energy's estimated net available liquidity on December 31, 2008
was approximately $2.4 billion.
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