AES Andes offers to buy 6.35% notes due 2079 for up to $200 million

By Marisa Wong

Los Angeles, Nov. 22 – Chile’s AES Andes SA announced it has launched an offer to purchase for cash an aggregate amount of its $390,286,000 outstanding 6.35% junior subordinated capital notes due 2079 (Cusip: 00105DAG0, P0607LAD5) that will not result in an aggregate purchase price that exceeds $200 million, excluding accrued interest.

The company is offering a total consideration of $890 per $1,000 principal amount of notes. The total consideration includes an early tender premium of $30 per $1,000 of notes tendered by the early tender time.

Holders tendering after the early tender time will only be eligible to receive the tender offer consideration of $860 per $1,000 principal amount.

The company will also pay accrued interest to but excluding the applicable settlement date.

The early tender time is 5 p.m. ET on Dec. 6, also the withdrawal deadline.

Early settlement is expected to occur on Dec. 9.

The tender offer expires at 11:59 p.m. ET on Dec. 20.

Final settlement is expected to occur on the third business day after the expiration date.

The tender offer is not conditioned on the tender of any minimum principal amount. However, the offer is subject to some other conditions.

BofA Securities, Inc. (800 292-0070 or 646 855-8988) is the dealer manager.

Global Bondholder Services Corp. (855 654-2014) is the tender and information agent.

AES Andes is an electricity producer and distributor based in Santiago, Chile.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.