AES China tenders for up to $72.46 million of 8¼% bonds due 2010

By Jennifer Chiou

New York, Dec. 26 - AES China Generating Co. Ltd. subsidiary Jiaozuo Power Partners said it reached an agreement to sell its 70% interest in a 250 megawatt coal-fired generation plant and it is now making a mandatory cash tender offer for up to $72.46 million of the company's $175 million of 8¼% bonds due 2010.

AES said it will pay par plus accrued interest.

The company said that the repurchased bonds will be canceled.

The repurchase date will be Jan. 23 and holders must tender at least five business days before that.

Deutsche Bank AG, Hong Kong Branch is the paying agent and DB Trustees (Hong Kong) Ltd. is the trustee.

The Hong Kong-based company is engaged in the development, acquisition, financing, construction, ownership and management of electric power generation facilities.

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