AES calls all 10%, 8 3/8% notes, some 10½% notes

By Caroline Salls

Pittsburgh, Nov. 19 - The AES Corp. will redeem $331.4 million of its outstanding debt securities, including all $152.6 million outstanding 10% senior secured notes due 2005, all $113.3 million 8 3/8% senior subordinated notes due 2007 and $65.5 million of its 8½% senior subordinated notes due 2007 on Dec. 20, according to a company news release.

The 10% senior secured notes and 8 3/8% senior subordinated notes will be redeemed at par plus accrued interest up to the redemption date.

The 8½% senior subordinated notes to be redeemed will be selected by lot and will be redeemed at a redemption price of 101.417% of par plus accrued interest to the redemption date.

"With this redemption, we have achieved our 2004 goal of paying down $800 million of debt," executive vice president and chief executive officer Barry Sharp said in the release.

AES is an Arlington, Va., global power company.

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