AES Andes says $61.88 million 6.35% notes tendered by early deadline

Chicago, Dec. 6 – Chile’s AES Andes SA announced that noteholders tendered $61,879,000 of their 6.35% junior subordinated capital notes due 2079 (Cusips: 00105DAG0, P0607LAD5) by the early deadline for the company’s tender offer that started on Nov. 22, according to a press release.

When the offer started there were $390,286,000 of the notes outstanding.

The company was offering a total consideration of $890 per $1,000 principal amount of notes. The total consideration included an early tender premium of $30 per $1,000 of notes tendered by the early tender time.

However, AES Andes is extending the early tender consideration to the end of the offer.

The company will also pay accrued interest to but excluding the applicable settlement date.

The early tender time was 5 p.m. ET on Dec. 6, also the withdrawal deadline.

Early settlement is expected to occur on Dec. 9.

The tender offer expires at 11:59 p.m. ET on Dec. 20.

Final settlement is expected to occur on Dec. 22.

The tender offer is not conditioned on the tender of any minimum principal amount. However, the offer is subject to some other conditions.

BofA Securities, Inc. (800 292-0070 or 646 855-8988) is the dealer manager.

Global Bondholder Services Corp. (855 654-2014) is the tender and information agent.

AES Andes is an electricity producer and distributor based in Santiago, Chile.

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