AES pronounces placement of participation models



ARLINGTON, Virginia., March 3, 2021 / PRNewswire / – AES Company (NYSE: AES) (“AES” or the “Firm”) as we speak introduced its intention to promote, topic to market and different situations, 10,000,000 Capital Shares ( the “shares”), every with an indicated quantity of $ 100. The Firm anticipates that the Items will initially include an mixture of 1,000,000 Cumulative Perpetual Convertible Most popular Shares Collection A (the “Convertible Most popular Shares”), with an mixture liquidation desire of $ 1.0 billion, and buy contracts, for a complete of $ 1.0 billion, peculiar shares of the Firm (the “Strange Shares”). The Firm expects to grant the Underwriters an choice to buy as much as 1,500,000 extra Items, solely to cowl over-allotments. The providing will probably be made in accordance with an efficient registration assertion filed with the Securities and Alternate Fee (the “SEC”).

The frequent shares are anticipated to be delivered upon settlement of the acquisition contracts on February 15, 2024 (topic to early settlement in sure circumstances).

The Firm expects to pay, quarterly in arrears, contract adjustment funds on the declared quantity of every Unit and cumulative dividends, as and when declared by the Board of Administrators of the Firm. , the $ 1,000 desire for liquidation by share of convertible most well-liked shares, in every case, at a charge to be decided in reference to the provide. The Firm might pay such contract adjustment funds and dividends in money, in frequent inventory or in a mix of money and customary inventory, on the possibility of the Firm, until the Firm has beforehand irrevocably elected an contract adjustment fee methodology or dividend fee methodology, because the case could also be, to use. The Firm can also, at its discretion, defer contract adjustment funds on the Items.

Every convertible most well-liked share unit can solely be transformed after it has been separated from the models and, earlier than February 15, 2024, solely upon the prevalence of sure Elementary Change Occasions if such Elementary Change Occasion happens previous to profitable remarketing of the Convertible Most popular Share. Upon such conversion, the Firm will ship in respect of every $ 1,000 liquidation desire of the transformed convertible most well-liked share (i) one share of the Firm’s Collection B most well-liked share or, solely with respect to redemption conversions, as much as $ 1,000 in money and (ii) frequent inventory, if relevant, in respect of any conversion worth exceeding the liquidation desire of the transformed convertible most well-liked inventory.

The Convertible Most popular Share is anticipated to be remarketed throughout an non-compulsory remarketing interval starting on, and together with, November 15, 2023 and ending on, and together with, February 1, 2024 or a final remarketing interval starting on, and together with, February 7, 2024 and ending on, and together with, February 13, 2024. Upon any profitable remarketing, the conversion charge and / or dividend charge of the convertible most well-liked inventory could also be elevated, and the closest redemption date of the convertible most well-liked inventory could also be modified to a later date. March twenty first, 2025.

Convertible most well-liked shares are perpetual, however the firm might redeem some or the entire excellent convertible most well-liked shares from and after March 22, 2024 (the date of which will be modified to a later date as described above), at a redemption value equal to 100% of the liquidation desire thereof, plus accrued and unpaid dividends.

The Firm intends to make use of the online proceeds of the providing to develop its renewable power enterprise, its US utility enterprise, its LNG infrastructure and for different developments as decided by administration.

Citigroup International Markets Inc., Goldman Sachs & Co. LLC, BofA Securities and Morgan Stanley & Co. LLC are performing as co-bookrunners for this providing.

This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase and there will probably be no sale of such securities in any jurisdiction through which such a suggestion, solicitation or sale could be unlawful previous to registration. or qualification below securities legal guidelines. of such jurisdiction.

These securities might solely be provided by the use of a prospectus and a associated prospectus complement. Earlier than investing, it is best to learn the prospectus, the associated prospectus complement, and different paperwork that the corporate has filed with the SEC for extra full details about the corporate and the providing. You possibly can get hold of these paperwork freed from cost by visiting EDGAR on the SEC’s web site at http://www.sec.gov. Alternatively, copies will be obtained by contacting Citigroup International Markets Inc., c / o Broadridge Monetary Options, 1155 Lengthy Island Avenue, Edgewood, New York 11717 or by calling toll free at 1-800-831-9146; Goldman Sachs & Co. LLC, 200 West Road, New York, NY 10282-2198, consideration Prospectus or by calling toll free at 1-866-471-2526; BofA Securities, Inc., NC1-004-03-43, 200 North Faculty Road, third Ground, Charlotte NC 28255-0001, for the eye of the Prospectus division; or Morgan Stanley & Co., 180 Varick Road, New York, New York 10014, for the eye of the Prospectus division.

About AES

The AES Company (NYSE: AES) is a Fortune 500 world power firm accelerating the way forward for power. Along with our many stakeholders, we’re enhancing lives by offering the greener, smarter power options the world wants. Our numerous workforce is dedicated to steady innovation and operational excellence, whereas partnering with our prospects on their strategic power transitions and persevering with to satisfy their power wants as we speak. For extra info go to www.aes.com.

Protected Harbor Disclosure

This press launch incorporates forward-looking statements inside the that means of the Securities Act of 1933 and the Securities Alternate Act of 1934. Ahead-looking statements should not meant to ensure future outcomes, however relatively represent AES ‘present expectations primarily based on cheap assumptions. These forward-looking statements embody, however should not restricted to, our financing plans, together with the providing of the Items and particulars thereof, the proposed use of the proceeds thereof and different anticipated results of the providing of the Items. elements. Ahead-looking statements should not meant to ensure future outcomes, however relatively represent AES ‘present expectations primarily based on cheap assumptions.

Precise outcomes might differ materially from these projected in AES’s forward-looking statements as a consequence of dangers, uncertainties and different components. Important components that might have an effect on precise outcomes will be discovered within the paperwork filed by AES with the Securities and Alternate Fee (the “SEC”), together with, however not restricted to, the dangers mentioned in level 1A: “ Threat Elements ”and Merchandise 7:“ Administration Dialogue & Evaluation ”in AES ‘2020 Annual Report on Type 10-Okay and in subsequent stories filed with the SEC. Readers are inspired to learn the paperwork filed by AES to be taught extra concerning the danger components related to AES ‘actions. AES assumes no obligation to replace or revise forward-looking statements, whether or not on account of new info, future occasions or in any other case.

SOURCE The corporate AES

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