AES Gener accepts tenders for $341.12 million of 8 3/8% notes

By Sarah Lizee

Olympia, Wash., April 8 – Chile’s AES Gener SA announced the final results of its tender offer for its 8 3/8% junior subordinated capital notes due 2073, according to a notice.

The company said it received tenders and consents from holders of $341,123,000 of the notes as of the expiration time at 11:59 p.m. ET on April 5.

AES said it accepted all of the tendered notes for purchase. Settlement was set for April 8.

As previously reported, with the early tender premium extension, noteholders who tendered their notes by the expiration time will receive $1,012.11 plus accrued interest as total consideration for each $1,000 principal amount of notes. The amount includes an early tender premium of $30.00.

As of the early tender and consent deadline, 5 p.m. ET on March 22, the company had validly received tenders and consents from holders representing $334,693,000 of the $450 million outstanding on the notes.

Consent of a majority of holders was received and the proposed amendment will be included in a supplemental indenture. The proposed amendment shortens the minimum notice period for any redemption of the notes by the company to three days.

The dealer managers are Goldman Sachs & Co. (800 828-3182 or 212 902-6351), J.P. Morgan Securities LLC (866 846-2874) and BofA Merrill Lynch (800 292-0070 or 646 855-8988). The information agent is D.F. King & Co., Inc. (888 887-0082, 212 269-5550 or aesgener@dfking.com).

AES Gener is an electrical distributor based in Santiago, Chile.

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