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AES Announces Tender Offers For Up To A Total Of $300 Million Of Its 7.75% Senior Notes Due 2015, 9.75% Senior Notes Due 2016 And 8.00% Senior Notes Due 2017

Stocks in this article: AES

The AES Corporation (NYSE: AES) announced today the commencement of tender offers to purchase (each offer a “Tender Offer” and collectively, the “Tender Offers”) for cash, subject to certain terms and conditions, up to a total of $300 million aggregate principal amount of its outstanding 7.75% senior notes due 2015 (the “2015 Notes”), 9.75% senior notes due 2016 (the “2016 Notes”), and 8.00% senior notes due 2017 (the “2017 Notes” and, together with the 2015 Notes and the 2016 Notes, the “Securities”).

The Tender Offers are scheduled to expire at 11:59 p.m., New York City time, on March 14, 2014 (the “Expiration Date”), unless extended or earlier terminated by AES. The Tender Offers are being made pursuant to an Offer to Purchase dated February 14, 2014 and a related Letter of Transmittal dated February 14, 2014 (together, the “Tender Offer Materials”), which set forth a more detailed description of the Tender Offers. Holders of the Securities are urged to carefully read the Tender Offer Materials before making any decision with respect to the Tender Offers.

The principal amount of the Securities that may be purchased pursuant to the Tender Offers will not exceed $300,000,000 (the “Tender Cap Amount”), subject to the acceptance priority level set forth in the table below (the “Acceptance Priority Level”). As discussed in more detail in the Tender Offer Materials, AES reserves the right, but is under no obligation, to increase or decrease the Tender Cap Amount, at any time, subject to compliance with applicable law.

The following table sets forth certain terms of the Tender Offers:


Dollars per $1,000 Principal Amount of Securities

Title of Security

CUSIP Number

Principal Amount Outstanding

Acceptance Priority Level

Tender Offer Consideration (1)


Early Tender Premium


Total Consideration (1)(2)

8.00% Senior Notes due 2017 00130HBH7 $1,150,000,000 1 $1,175.00 $30.00 $1,205.00
7.75% Senior Notes due 2015 00130HBL8 $356,000,000 2 $1,081.80 $30.00 $1,111.80
9.75% Senior Notes due 2016 00130HBQ7 $368,826,000 3 $1,155.21 $30.00 $1,185.21
(1) Excludes accrued and unpaid interest up to, but not including, the applicable Settlement Date, which will be paid in addition to the Tender Offer Consideration or Total Consideration, as applicable.
(2) Includes the Early Tender Premium.

The total consideration (the “Total Consideration”) payable for each $1,000 principal amount of Securities validly tendered at or prior to 5:00 p.m., New York City time, on February 28, 2014 (such date and time, as it may be extended, the “Early Tender Date”) and accepted for purchase pursuant to the Tender Offers will be the applicable total consideration for such series of Securities set forth in the table above. The Total Consideration includes the early tender premium for such series of Securities also set forth in the table above (the “Early Tender Premium”). Holders must validly tender and not subsequently validly withdraw their Securities at or prior to the Early Tender Date in order to be eligible to receive the Total Consideration for such Securities purchased in the Tender Offers.

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