AES driving by with $500 million offering of 10-year notes Tuesday

By Paul A. Harris

Portland, Ore., March 4 - AES Corp. plans to price a $500 million public offering of 10-year senior notes Tuesday following a mid-morning conference call with investors, according to a market source.

Goldman Sachs & Co., Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are the joint bookrunners. BNP Paribas Securities Corp., Credit Agricole CIB, HSBC, Mitsubishi UFJ Securities, RBS Securities Inc. and SG CIB are the co-managers.

The notes become callable after five years at par plus 50% of the coupon.

The Arlington, Va.-based power producer plans to use the proceeds to fund tender offers, including its 8% senior notes due 2017, its 7¾% senior notes due 2015 and its 9¾% senior notes due 2016.

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