AES Announces Public Offering of Fixed-to-Fixed Reset Rate Junior Subordinated Notes
AES (NYSE: AES) has announced its intention to conduct a registered public offering of fixed-to-fixed reset rate junior subordinated notes. The company plans to use the net proceeds to repay existing debt, including borrowings under its senior credit facility's revolving facility, and for general corporate purposes. J.P. Morgan Securities, Wells Fargo Securities, Morgan Stanley, and Credit Agricole Securities are serving as joint book-running managers for the offering.
AES (NYSE: AES) ha annunciato la sua intenzione di effettuare un'offerta pubblica registrata di note subordinate junior a tasso fisso con ripristino fisso. La società prevede di utilizzare i proventi netti per ripagare debiti esistenti, inclusi i prestiti sotto la linea di credito revolving del proprio finanziamento senior, e per scopi aziendali generali. J.P. Morgan Securities, Wells Fargo Securities, Morgan Stanley e Credit Agricole Securities stanno fungendo da gestori principali congiunti per l'offerta.
AES (NYSE: AES) ha anunciado su intención de realizar una oferta pública registrada de notas subordinadas junior de tasa fija con reajuste fijo. La compañía planea utilizar los ingresos netos para pagar deudas existentes, incluidas las deudas bajo la línea de crédito revolvente de su financiación senior, y para fines corporativos generales. J.P. Morgan Securities, Wells Fargo Securities, Morgan Stanley y Credit Agricole Securities están actuando como gestores conjuntos principales de la oferta.
AES (NYSE: AES)는 고정에서 고정으로 재설정되는 비유동적 우선주 노트의 등록된 공모를 진행할 계획이라고 발표했습니다. 회사는 순수익을 기존 부채 상환, 선순위 신용시설의 회전대출 및 일반 기업 목적으로 사용할 계획입니다. J.P. Morgan Securities, Wells Fargo Securities, Morgan Stanley, 그리고 Credit Agricole Securities는 이 공모의 공동 주관 발행 관리자로 활동하고 있습니다.
AES (NYSE: AES) a annoncé son intention de réaliser une offre publique enregistrée d'obligations juniors subordonnées à taux fixe avec réinitialisation fixe. La société prévoit d'utiliser le produit net pour rembourser des dettes existantes, y compris les emprunts dans le cadre de son crédit senior revolving, et pour des besoins généraux d'entreprise. J.P. Morgan Securities, Wells Fargo Securities, Morgan Stanley et Credit Agricole Securities agissent en tant que gestionnaires principaux conjoints de cette offre.
AES (NYSE: AES) hat seine Absicht bekannt gegeben, ein registriertes öffentliches Angebot von nachrangigen, junioren, festverzinslichen Anleihen mit fester Anpassung durchzuführen. Das Unternehmen plant, die Nettomittel zur Rückzahlung bestehender Schulden, einschließlich der Kredite aus der revolvierenden Kreditlinie seiner Senior-Kreditfazilität, und für allgemeine Unternehmenszwecke zu verwenden. J.P. Morgan Securities, Wells Fargo Securities, Morgan Stanley und Credit Agricole Securities fungieren als gemeinsame Joint Book-Running Manager für das Angebot.
- Potential debt restructuring through refinancing of existing debt
- Access to additional capital for corporate purposes
- Increase in overall debt obligations
- Potential impact on company's debt-to-equity ratio
- Additional interest payment obligations from new notes
Insights
This debt offering represents a significant financial move for AES The fixed-to-fixed reset rate junior subordinated notes structure indicates a strategic approach to debt management, offering potential flexibility in future interest payments while being subordinate to other debt obligations. The involvement of major financial institutions as joint book-runners (J.P. Morgan, Wells Fargo, Morgan Stanley and Credit Agricole) suggests strong institutional backing.
The intended use of proceeds for debt repayment, particularly the revolving credit facility, points to a debt refinancing strategy that could potentially improve the company's debt structure and reduce interest costs. However, the impact will largely depend on the size of the offering and the interest rate terms, which are not disclosed. Given AES's
AES intends to use the net proceeds from the proposed offering to repay existing indebtedness, including borrowings under the revolving facility of its senior credit facility, and for general corporate purposes.
J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC and Credit Agricole Securities (
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. An effective shelf registration statement related to the Notes has previously been filed by AES with the Securities and Exchange Commission (the "SEC"). The offering and sale of the Notes are being made only by means of a prospectus supplement dated December 4, 2024 and an accompanying base prospectus dated March 2, 2022 related to the offering. Before you invest, you should read the prospectus and the preliminary prospectus supplement in that registration statement and other documents AES has filed with the SEC for more complete information about AES and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and related base prospectus related to this offering may be obtained from J.P. Morgan Securities LLC, Attention: Investment Grade Syndicate Desk, 3rd Floor, 383 Madison Avenue,
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Such forward-looking statements include, but are not limited to, our financing plans, including the offering of the Notes and the details thereof, the proposed use of proceeds therefrom, and other expected effects of the offering of the Notes, which are subject to risks and uncertainties, such as our ability to market and sell the Notes, our continued eligibility to use the shelf registration statement, general economic conditions and other risks and uncertainties.
Actual results could differ materially from those projected in AES' forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the prospectus supplement related to the offering and AES' filings with the SEC, including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2023 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Potential investors are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.
Investor Contact: Susan Harcourt 703-682-1204, susan.harcourt@aes.com
Media Contact: Amy Ackerman 703-682-6399, amy.ackerman@aes.com
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SOURCE The AES Corporation
FAQ
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