AES to price $500 million 10-year notes in Monday drive-by

By Paul A. Harris

Portland, Ore., Aug. 14 – AES Corp. plans to price a $500 million offering of 10-year senior notes in a quick-to-market trade on Monday, according to a bond trader.

J.P. Morgan Securities LLC, Goldman Sachs & Co., Credit Agricole CIB and SG CIB are the joint bookrunners for the public offering.

BNP Paribas Securities Corp., HSBC Securities (USA) LLC, KeyBanc Capital Markets LLC, Loop Capital Markets LLC, Ramirez & Co. and SMBC Nikko are the co-managers.

The notes come with three years of call protection.

The Arlington, Va.-based power company plans to use the proceeds to fund its concurrent tender offer for its 8% senior notes, with any remaining proceeds to be used to retire certain of its outstanding debt.

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