AES waives early tender deadline for some notes

New York, April 28 - AES Corp. said it is waiving the early tender deadline for three series of notes in its offer to repurchase some of its outstanding debt.

The Arlington, Va. energy company said the deadline will not apply to its 10.25% senior subordinated notes due 2006, 8.375% senior subordinated notes due 2007 and 8.50% senior subordinated notes due 2007. Holders who tender these securities by the expiration date of 5.00 p.m. ET on May 6 will receive the early tender premium.

AES had already increased the amount it was offering to pay in the tender for these three series of notes.

For the other series of notes, the early tender deadline expired at 5.00 p.m. ET on April 25.

As of the early tender deadline, AES said it had received tenders of $1.426 billion notes, up from $1.42 billion at its previous report as of 5.00 p.m. ET on April 22.

AES is seeking to buy $525 million of the notes although it may increase the size of the tender offer up to a maximum of $1.3 billion principal amount, depending on the size of the offering of new notes it is currently bringing to market. AES announced a $1 billion sale of second priority senior secured notes Thursday.

As of 5.00 p.m. ET on April 25, AES had received the following tenders:

* $53.665 million of its 8.00% senior notes series A due 2008 compared to the $20 million of the $199.022 million outstanding that it is seeking to buy and the $53.475 million tendered by 5.00 p.m. ET on April 22;

* $198.931 of its 8.75% senior notes series G, due 2008 compared to the $40 million of the $400 million outstanding that it is seeking to buy and the $197.075 million tendered by 5.00 p.m. ET on April 22;

* $311.764 million of its 9.50% senior notes series B due 2009 compared to the $75 million of the $750 million outstanding that it is seeking to buy and the $308.098 million tendered by 5.00 p.m. ET on April 22;

* $506.649 million of its 9.375% senior notes series C due 2010 compared to the $86 million of the $850 million outstanding that it is seeking to buy and the $506.549 million tendered by 5.00 p.m. ET on April 22;

* $275.679 million of its 8.875% senior notes series E due 2011 compared to the $54 million of the $536.690 million outstanding that it is seeking to buy and the $274.719 million tendered by 5.00 p.m. ET on April 22;

* $18.867 million of its 10.25% senior subordinated notes due 2006 compared to the $55 million of the $217.05 million outstanding that it is seeking to buy and the $14.345 million tendered by 5.00 p.m. ET on April 22;

* $40.101 million of its 8.375% senior subordinated notes due 2007 compared to the $77 million of the $303.290 million outstanding that it is seeking to buy and the $36.721 million tendered by 5.00 p.m. ET on April 22;

* $26.888 million of its 8.50% senior subordinated notes due 2007 compared to the $86 million of the $338.165 million outstanding that it is seeking to buy and the $25.005 million tendered by 5.00 p.m. ET on April 22; and

* $4.952 million of its 8.875% senior subordinated notes due 2027 compared to the $32 million of the $125 million outstanding that it is seeking to buy and the $4.952 million tendered by 5.00 p.m. ET on April 22.

The tender expires at 5.00 p.m. ET on May 6 unless extended.

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