Shearman & Sterling advised Citibank, as Administrative Agent, on a $250 million incremental amendment to The AES Corporation’s existing revolving credit facility, bringing the total size of the facility to $1.5 billion. Shearman & Sterling subsequently advised SMBC Bank, as Administrative Agent, on a $200 million term loan facility for The AES Corporation. Proceeds of both facilities will be used to finance general corporate purposes.
Headquartered in Arlington, Virginia, The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.