AES Corporation (NYSE: AES) has announced the pricing terms of the cash tender offer for any and all of its 3.300% senior notes due 2025. The tender offer involves the purchase of outstanding 3.300% senior notes due 2025, with a principal amount outstanding of $900,000,000.
The consideration (purchase price) offered per $1,000 principal amount of securities validly tendered and accepted for purchase pursuant to the tender offer was determined to be $995.97. Additionally, all holders of securities accepted for purchase will receive accrued and unpaid interest ("accrued interest") from the January 15, 2025 interest payment date up to, but not including, the expected settlement date of March 21, 2025.
The tender offer is set to expire at 5:00 p.m., New York City time, on March 18, 2025, unless extended or earlier terminated by AES. Holders of securities are allowed to validly withdraw tenders at or prior to the earlier of the expiration time or the 10th business day after the commencement of the tender offer. After the 60th business day, withdrawal rights are limited under certain circumstances required by law.
AES Corporation's obligation to accept for purchase and pay for the securities validly tendered pursuant to the tender offer is subject to certain conditions, including obtaining debt financing in a minimum aggregate principal amount, together with cash on hand, to purchase the tendered securities. The tender offer is not conditioned on any minimum amount of securities being tendered.
AES Corporation has retained Citigroup Global Markets Inc. to serve as the dealer manager for the tender offer, and Global Bondholder Services Corporation has been retained to serve as the information agent and tender agent for the tender offer.
The press release does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities, nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful.
About AES Corporation: The AES Corporation is a Fortune 500 global energy company focused on delivering greener, smarter energy solutions. The company's workforce is committed to continuous innovation and operational excellence, partnering with customers on their strategic energy transitions while meeting their energy needs today. The market has reacted to these announcements by moving the company's shares -1.1% to a price of $13.02. If you want to know more, read the company's complete 8-K report here.
