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AES El Salvador Trust settles early tenders for 6¾% notes due 2016
By Toni Weeks
San Luis Obispo, Calif., March 28 - AES El Salvador Trust II said it completed the early settlement of its tender offer for any and all outstanding 6¾% senior guaranteed notes due 2016 issued by AES El Salvador Trust, a Panamanian trust.
As of 5 p.m. ET on March 27, the early tender deadline, noteholders tendered $149,003,000 principal amount of the securities. The total purchase price for these notes will be $1,005 for each $1,000 principal amount, including a $30 early tender premium, as previously reported.
Holders who tender their notes after the early deadline will receive $975 per $1,000 of notes.
The offer will end at 11:59 p.m. ET on April 11.
The company also will pay accrued interest to but excluding the settlement date.
Tendered notes may no longer be withdrawn.
Settlement occurred March 28 for early tendered notes and is expected to occur on April 12 for those tendered after the early date.
The notes may only be redeemed under the withholding tax redemption, and there will be no notes outstanding after completion of that redemption, according to a company press release.
D.F. King & Co., Inc. (800 290-6426, e-mail: aes@dfking.com or banks and brokers call collect 212 269-5550) is the information agent.
Barclays (attn. liability management group, 800 438-3242 or collect 212 528-7581) and Deutsche Bank Securities Inc. (855 287-1922 or collect 212 250-7257) are the dealer managers.
AES El Salvador is an indirect subsidiary of AES and Energia Global International.
The notes are guaranteed by Compania de Alumbrado Electrico de San Salvador, SA de CV, AES Clesa y Compania, S en C de CV, Empresa Electrica de Oriente, SA de CV and Distribuidora Electrica de Usulutan, SA de CV, each a company organized in El Salvador with limited liability.
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