April 16, 2013
AES El Salvador closed a cash tender offer on its 6.75% 2016 bond on April
AES El Salvador closed a cash tender offer on its 6.75% 2016 bond on April 11. Investors tendered $149m, or around 49.7% of the outstanding amount by the early tender deadline last month. No further bonds were tendered since then. The borrower had offered to buy back paper from early participants at 100.5, and from later participants at 97.5. Barclays and Deutsche Bank managed the liability management exercise, which was funded through a $310m 2023 bond issued in March.