Tender Offer - AES CORP
Form Type: 8-K
Filing Date: 2025-03-20
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525058980
Filing Summary: On March 20, 2025, The AES Corporation completed its offering of $800,000,000 aggregate principal amount of 5.800% Senior Notes due 2032. The offering was part of AES's automatic shelf registration statement filed with the SEC on March 11, 2025. The net proceeds from this offering will primarily be directed towards a tender offer to purchase any and all of its 3.300% Senior Notes due 2025. Additionally, the remaining funds will be allocated to reduce existing indebtedness and for general corporate purposes. The 5.800% Senior Notes will mature on March 15, 2032 and will bear interest payable semiannually starting September 2025. The document includes details regarding the redemption rights, events of default, and covenants associated with the Notes. Furthermore, it references related press releases detailing the pricing, expiration, and outcomes of the tender offer.
Additional details:
Principal Amount: 800,000,000
Interest Rate: 5.800%
Maturity Date: 2032-03-15
Redemption Conditions: AES may redeem the Notes at a premium before maturity under specified conditions.
Tender Offer Details: The tender offer is for the purchase of 3.300% Senior Notes due 2025 for cash.
Form Type: 8-K
Filing Date: 2025-03-14
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525054821
Filing Summary: On March 12, 2025, The AES Corporation entered into an Underwriting Agreement with several underwriters, including Citigroup Global Markets Inc. and BNP Paribas Securities Corp., to offer and sell $800,000,000 of 5.800% Senior Notes due 2032 at a price of 100.000% of the principal amount. The proceeds from this offering will be utilized to fund a tender offer for the purchase of all outstanding 3.300% Senior Notes due 2025, in addition to paying associated fees and expenses. Remaining proceeds are intended for retiring other debt and general corporate purposes, with the closing expected on March 20, 2025.
Additional details:
Item 1.01: Underwriting Agreement
Tender Offer Amount: $800,000,000
Tender Offer Interest Rate: 5.800%
Tender Offer Maturity: 2032
Existing Note Interest Rate: 3.300%
Existing Note Maturity: 2025
Form Type: 424B5
Filing Date: 2025-03-13
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525053940
Filing Summary: The AES Corporation is offering $800,000,000 aggregate principal amount of 5.800% Senior Notes due 2032. The notes will mature on March 15, 2032, and interest will be paid semi-annually starting September 15, 2025. The proceeds from this offering will primarily be used to fund a tender offer to purchase any outstanding 3.300% Senior Secured Notes due 2025 and to address related expenses. The tender offer is set to expire on March 18, 2025, unless extended or terminated early. The offering details indicate various conditions that must be met, including the completion of the offering and the ability to adjust the amount of 2025 Notes purchased. The notes are unsecured and rank equally with other unsecured debt while being junior to any future secured debt. The company has strategically benefitted from new contracts and a strong backlog of projects, reaffirming its commitment to growth in both renewable and traditional energy sectors. AES has experienced significant strategic milestones in recent periods, including extensive asset sales and expansions in new partnerships.
Additional details:
Notes Offered: $800,000,000
Interest Rate: 5.800%
Maturity Date: 2032-03-15
Tender Offer Expiration: 2025-03-18
Tender Offer Details: Any and All Tender Offer for 3.300% Senior Secured Notes due 2025 worth $900 million outstanding.
Use Of Proceeds: Net proceeds to fund purchases in tender offer, retire outstanding indebtedness, and for general corporate purposes.
Ranking: Unsecured and unsubordinated obligations, junior to future secured debt.
Joint Book Running Managers: Citigroup, BNP PARIBAS, BofA Securities, MUFG, Santander
Risk Factors Section: Discussed in Risk Factors section beginning on page S-12.
Form Type: 8-K
Filing Date: 2025-03-12
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525052595
Filing Summary: On March 12, 2025, The AES Corporation announced a cash tender offer to purchase any and all of its outstanding 3.300% Senior Notes due 2025, contingent on obtaining net proceeds from the issuance of new Senior Notes due 2032. The announcement includes the terms of the tender offer in the related notice of guaranteed delivery. This Current Report on Form 8-K does not constitute an offer to purchase or a solicitation of an offer to sell any securities. AES made this announcement alongside a proposed offering of Senior Notes due 2032.
Additional details:
Senior Notes Due: 2032
Tender Offer Securities: 3.300% Senior Notes due 2025
Tender Offer Date: 2025-03-12
Tender Offer Proceeds Condition: Minimum aggregate principal amount from the Offering, together with cash on hand, to purchase tendered Securities.
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