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AES El Salvador plans to issue $290 million 10-year bonds via Credit Suisse
By Reshmi Basu
New York, Jan. 31 - AES El Salvador Trust plans to issue $290 million of senior guaranteed notes due 2016 (Baa3/NR/BBB-), according to market sources.
Proceeds from the sale will be used for debt repayment and for general corporate purposes
AES has three electric distribution systems in El Salvador: Compania de Luz Electrica de Santa Ana, Compania de Alumbrado Electrico de San Salvador and Empresa Electrica del Oriente, SA. Those subsidiaries will guarantee the issuance.
Credit Suisse is running the Rule 144A/Regulation S transaction.
AES El Salvador is an indirect subsidiary of AES and Energia Global International.
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