AES Announces Public Offering of Fixed-to-Fixed Rate Reset Junior Subordinated Green Notes
The AES (NYSE: AES) announced plans to offer fixed-to-fixed rate reset junior subordinated green notes in a registered public offering.
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Rhea-AI Summary
The AES (NYSE: AES) announced plans to offer fixed-to-fixed rate reset junior subordinated green notes in a registered public offering. AES aims to allocate the net proceeds to eligible green projects, with interim use for general corporate purposes.
The offering will be managed by Citigroup Global Markets, Goldman Sachs, Mizuho Securities USA, Morgan Stanley, and SMBC Nikko Securities America. The effective shelf registration statement for the notes has already been filed with the SEC.
This announcement does not constitute an offer or solicitation to sell or buy securities. For more information, refer to the prospectus and prospectus supplement dated May 16, 2024.
Positive
- AES aims to allocate net proceeds to eligible green projects, enhancing their sustainability profile.
- The involvement of major financial institutions like Citigroup, Goldman Sachs, Mizuho Securities, Morgan Stanley, and SMBC Nikko underscores the offering's credibility.
- The notes are fixed-to-fixed rate reset, potentially offering stability and predictability in returns.
Negative
- The announcement is subject to market and other conditions, indicating potential uncertainty.
- Pending allocation to green projects, proceeds will be used for general corporate purposes, which may not immediately benefit shareholders.
Details
News Market Reaction – AES
The recorded move for AES in the trading session of this news was +0.38%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
AES intends to allocate an amount equal to the net proceeds from this offering to one or more eligible green projects, which may include the development or redevelopment of such projects. Pending such allocation, AES intends to use the net proceeds from the proposed offering for general corporate purposes.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Mizuho Securities
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. An effective shelf registration statement related to the Notes has previously been filed by AES with the Securities and Exchange Commission (the "SEC"). The offering and sale of the Notes are being made only by means of a prospectus supplement dated May 16, 2024 and an accompanying base prospectus dated March 2, 2022 related to the offering. Before you invest, you should read the prospectus and the preliminary prospectus supplement in that registration statement and other documents AES has filed with the SEC for more complete information about AES and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and related base prospectus related to this offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, our financing plans, including the offering of the Notes and the details thereof, the proposed use of proceeds therefrom, the ultimate allocation of amounts relating to the offering of the Notes to eligible green projects, and other expected effects of the offering of the Notes, which are subject to risks and uncertainties, such as our ability to market and sell the Notes, our continued eligibility to use the shelf registration statement, general economic conditions and other risks and uncertainties. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions.
Actual results could differ materially from those projected in AES' forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the prospectus supplement related to the offering and AES' filings with the SEC, including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2023 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Potential investors are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.
Investor Contact: Susan Harcourt 703-682-1204
Media Contact: Amy Ackerman 703-682-6399
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SOURCE The AES Corporation
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