OREANDA-NEWS. The AES Corporation (NYSE: AES) announced today the early results of its previously announced tender offers to purchase (each offer a “Tender Offer” and collectively, the “Tender Offers”) for cash, subject to certain terms and conditions, up to $250,000,000 of its outstanding 7.375% senior notes due 2021 (the “2021 Notes”), 4.875% senior notes due 2023 (the “2023 Notes”), 5.500% senior notes due 2024 (the “2024 Notes”) and 5.500% senior notes due 2025 (the “2025 Notes” and, together with the 2021 Notes, the 2023 Notes and the 2024 Notes, the “Securities”). Tendered Securities cannot be withdrawn after the Withdrawal Deadline, which was 5:00 p.m., New York City time, on January 11, 2016.

On December 28, 2015, AES commenced the Tender Offers to purchase the Securities in accordance with the terms and conditions set forth in the Offer to Purchase for Cash and related Letter of Transmittal (collectively, the “Tender Offer Materials”). The Tender Offers will expire at 11:59 p.m., New York City time, on January 26, 2016 (the “Expiration Date”), unless extended or earlier terminated by AES. Capitalized terms used in this announcement and not otherwise defined shall have the meanings assigned to them in the Tender Offer Materials.

According to information received from Global Bondholder Services Corporation (“GBSC”), the Depositary and Information Agent for the Tender Offers, as of 5:00 p.m., New York City time, on January 11, 2016 (the “Early Tender Date”), AES had received valid tenders from Holders of the Securities as outlined in the table below.

                     
Title of Security   CUSIP Number  

Principal
Amount
Outstanding

  

Acceptance
Priority Level

  

Aggregate
Principal Amount
Tendered

   % Tendered
4.875% Senior Notes due 2023   00130HBT1   $750,000,000   1   $36,931,000   4.92%
5.500% Senior Notes due 2025   00130HBW4   $575,000,000   2   $1,783,000   0.31%
5.500% Senior Notes due 2024   00130HBU8   $750,000,000   3   $12,120,000   1.62%
7.375% Senior Notes due 2021  

00130HBS3,
00130HBR5 (144A)

   $1,000,000,000   4   $34,122,000   3.41%
       

$3,075,000,000

      

$84,956,000

    
                     

The principal amounts of each series of Securities that are purchased in the Tender Offers will be determined in accordance with the acceptance priority levels set forth in the Offer to Purchase and referenced in the table above, with 1 being the highest acceptance priority level and 4 being the lowest acceptance priority level. All Securities validly tendered and not validly withdrawn in the Tender Offer having a higher acceptance priority level will be accepted before any tendered Securities having a lower acceptance priority level are accepted in the applicable Tender Offer. Securities of the series in the lowest acceptance priority level accepted for purchase in accordance with the terms and conditions of the Tender Offers will be subject to proration so that AES will only accept for purchase Securities up to a combined aggregate principal amount of $250,000,000.

The Early Settlement Date for Securities tendered at or prior to the Early Tender Date and accepted for purchase is expected to occur in no event later than January 12, 2016, but may change at AES’ option and is subject to all conditions to the Tender Offers having been satisfied or waived by AES. Holders that tendered Securities at or prior to the Early Tender Date and whose Securities are accepted for payment, subject to the applicable priority level and the proration procedures described in the Tender Offer Materials, will be entitled to receive the Total Consideration, which includes the Early Tender Premium, plus accrued and unpaid interest up to, but not including, the Settlement Date.

Closing of the Tender Offers is subject to the conditions described in the Tender Offer Materials. Full details of the terms and conditions of the Tender Offers are set out in the Tender Offer Materials, which are available from GBSC. AES may amend, extend or, subject to applicable law, terminate the Tender Offers at any time.

AES has retained J.P. Morgan Securities LLC to serve as Dealer Manager for the Tender Offers. Global Bondholder Services Corporation has been retained to serve as the Information and Depositary Agent for the Tender Offers. Questions regarding the Tender Offers may be directed to J.P. Morgan Securities LLC at 383 Madison Avenue, New York, New York 10179; Attn: Liability Management Group, (866) 834-4666 (toll-free), (212) 834-3424 (collect). Requests for the Tender Offer Materials may be directed to Global Bondholder Services Corporation at 65 Broadway – Suite 404, New York, New York 10006, Attn: Corporate Actions, (212) 430-3774 (for banks and brokers) or (866) 470-4200 (for all others).

AES is making the Tender Offers only by, and pursuant to, the terms of the Tender Offer Materials. None of AES, the Dealer Manager, the Information and Depositary Agent make any recommendation as to whether Holders should tender or refrain from tendering their Securities. Holders must make their own decision as to whether to tender Securities and, if so, the principal amount of the Securities to tender. The Tender Offers are not being made to holders of Securities in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offers to be made by a licensed broker or dealer, the Tender Offers will be deemed to be made on behalf of AES by the Dealer Manager, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

This press release does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any new securities, nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful.