The AES Corporation (NYSE: AES) ("AES" or the "Company") announced today the pricing of $900 million aggregate principal amount of its 5.450% senior notes due 2028 (the "Notes"). The closing of the offering of the Notes is expected to occur, subject to certain customary closing conditions, on May 17, 2023 (T+2).
AES intends to allocate an amount equal to the net proceeds from this offering to one or more eligible green projects, which may include the development or redevelopment of such projects. Pending such allocation, AES intends to use the net proceeds from the proposed offering to refinance existing indebtedness, fund investments in the Company's renewables strategic business unit, fund investments in its U.S. utilities businesses or for general corporate purposes.
J.P. Morgan Securities LLC and Barclays Capital Inc., MUFG Securities Americas Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc. are acting as joint book-running managers of the proposed offering.
