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CA Electricidad de Caracas will sell unsecured notes via ABN Amro
By Reshmi Basu
New York, Oct. 15 – Electricidad de Caracas Finance BV plans to issue unsecured notes (//B+) during the Oct. 18 week via ABN Amro, according to a market source.
The size and maturity of the Rule 144A/Regulation S offering have not been disclosed, the source added. But earlier, another source told Prospect News that the issue would be $100 million.
CA Electricidad de Caracas, the Venezuelan subsidiary of AES Corp., will guarantee the notes. The subsidiary is the country's largest utility company.
Proceeds will be used to refinance existing debt.
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