Chicago, April 30 – AES Andres BV sold $300 million of 5.7% notes due 2028 (BB-/BB-), according to a press release.
The notes, sold Thursday, are to be used for an ongoing tender offer for the company’s 7.95% notes due 2026. Proceeds will also be used to repay a bank loan, according to Fitch Ratings.
Andres and Dominican Power Partners (jointly known as AES Dominicana) will guarantee the notes.
AES Dominicana is a special purpose vehicle for Virginia-based AES, a private power generator in the Dominican Republic.
Issuer: | AES Andres BV
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Guarantors: | Andres and Dominican Power Partner
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Issue: | Notes
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Amount: | $300 million
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Maturity: | 2028
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Coupon: | 5.7%
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Trade date: | April 29
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Settlement date: | May 4
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Ratings: | S&P: BB-
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| Fitch: BB-
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