Shearman And Sterling

News July 14, 2015

Shearman & Sterling Advises on AES Gener’s Senior Notes Offering and Termination of Project Financing of Nueva Ventanas

Shearman & Sterling represented AES Gener S.A. (“AES Gener”), a Chilean power company and subsidiary of The AES Corp., in connection with its Rule 144A/Regulation S offering of US$425 million aggregate principal amount of its 5.000% Senior Notes due 2025. AES Gener is engaged, directly and through its subsidiaries, in the generation, transmission and supply of electricity in Chile, Colombia and Argentina.

AES Gener used the net proceeds of the offering to (i) repay certain project finance debt of its subsidiary, Empresa Eléctrica Nueva Ventanas S.A., and (ii) pay the purchase price and transaction costs in connection with the simultaneous local tender offer it undertook in Chile of its existing Chilean 8.0% Series Q Notes due 2019. Any remaining funds will be used for general corporate purposes, including the working capital needs of its subsidiaries. This is the third bond issuance by AES Gener or its subsidiaries in the last nine months to refinance project financings at its subsidiaries and investee.

The Team