AES to sell bonds for Chilean subsidiary

AES to sell bonds for Chilean subsidiary

Corporate & Sovereign Strategy Bonds Debt Fixed Income Capital Markets Chile United States

US energy company AES Corp plans to issue up to $425 million in bonds to pay off the bridge loan it used to buy a larger stake in Chilean subsidiary AES Andes, according to reports from rating agencies. AES announced on Monday that it had agreed to spend $517 million to increase its ownership of AES Andes to 98.1% from 67%, looking to complete the deal on January 12. It added that it planned to fund the transaction with "a combination of at least $350 million of non-recourse debt and the remaind

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