AES launches $1.6 billion two-part offering of senior secured first-lien notes

By Cristal Cody

Tupelo, Miss., May 15 – AES Corp. launched a $1.6 billion Rule 144A and Regulation S two-part offering of split-rated senior secured first-lien notes (Ba1/BBB-) on Friday, according to a market source and a press release.

The company launched a five-year tranche at a spread of 300 basis points over Treasuries.

An offering of 10-year notes was launched with a Treasuries plus 337.5 bps spread.

Credit Suisse Securities (USA) LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the bookrunners.

The company held fixed income investor calls for the deal on Wednesday.

Proceeds will be used to purchase up to $1,485,000,000 of 4% senior notes due 2021, 4.875% senior notes due 2023 and 4.5% senior notes due 2023 in tender offers, to retire debt and for general corporate purposes.

The issuer is an Arlington, Va.-based power company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.