Shearman & Sterling represented Bank of America, N.A., as administrative agent, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding, Inc., as joint lead arrangers and joint bookrunners, of a $1.05 billion term loan financing for The AES Corporation to be used for general corporate purposes, including, at AES's election, in connection with its proposed announced acquisition of DPL, Inc.

The Shearman & Sterling team was led by partners William E. Hirschberg (New York-Finance) and Maura E. O'Sullivan (New York-Finance) and included partner Don Lonczak (Washington DC-Tax) and associates Ada Ho (New York-Finance), Sylvia Lee (New York-Finance) and Alex Sundstrom (Washington DC-Tax).