#USA #Arlington #2028 Notes #AES Corporation #consent solicitation

AES Extends Consent Solicitation for 2028 Notes

On March 25, 2026, The AES Corporation (NYSE: AES) made a significant announcement affecting its financial strategy. The company declared an extension for the consent solicitation pertaining to its 5.450% Senior Notes due 2028. The deadline for registered holders to submit their consents has been pushed to 5:00 PM New York City time on March 27, 2026. The original expiration was set for March 24, 2026 but was deemed necessary to provide additional time for bondholders to consider the proposed amendments to the indenture governing these notes.

As per the latest update, approximately 43% of the total outstanding $900 million in 2028 notes had already expressed consent before the initial deadline. For the amendment to pass, a majority of the total outstanding principal amount needs to support it. The cumulative consent fee tied to this solicitation amounts to $2,250,000, which will be divided among all consenting bondholders who submit valid consents before the extended deadline.

Details of the Solicitation

The consent solicitation involves proposed amendments to the terms of the 2028 notes, designed to optimize the company's financial flexibility and operational capacity. The consent solicitation statement, initially dated March 5, 2026, outlines the full framework of these proposed amendments. AES has emphasized that, aside from the extension of the deadline, all other terms relating to the solicitation remain unchanged, ensuring that participating bondholders need not take any further action at this time.

Meanwhile, AES has also informed its investors about the expiration of solicitations relating to the 2030 Notes and 2031 Notes, which both concluded on March 24, 2026. Unfortunately, the company did not receive the necessary consents needed from holders of either of these notes to move forward with the proposed amendments. Consequently, the decision was made to terminate these solicitations with no financial compensation being offered to those who had previously consented.

Role of Solicitation Agents

Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are pivotal in facilitating these consent solicitations, acting as solicitation agents throughout the process. Furthermore, Global Bondholder Services Corporation serves as the information agent and tabulation agent, ensuring accurate dissemination of information and smooth processing of consents.

Inquiries related to the consent solicitation can be addressed to the respective solicitation agents or mutually agreed disclosure firms assigned to manage investor communications. Interested parties wishing to gain more clarity on the proceedings or complexities involved in the consent solicitations are encouraged to reach out as needed.

About AES Corporation

The AES Corporation has established itself as a pioneering force in the energy sector, committed to progressing towards more sustainable energy solutions. With robust operational capabilities and a strong dedication to innovation, AES is reshaping how global energy is produced and consumed. It operates in diverse markets, continuously improving the lives of individuals through its energy offerings. AES' mission revolves around meeting present energy needs while paving the way for future sustainability.

As a Fortune 500 company, AES actively engages with various stakeholders to ensure an inclusive and balanced approach towards energy transition strategies. This ethos extends to its financial operations, where the company seeks to nurture strong relationships with bondholders and offer value-driven investment opportunities.

Conclusion

In summary, AES Corporation's latest announcements regarding the consent solicitation for its 2028 notes reflect ongoing adjustments to its financial strategies amid evolving market conditions. By extending the deadline for the 2028 Notes and terminating unsatisfactory solicitations for the 2030 and 2031 notes, AES demonstrates its proactive approach to maintaining stakeholder relations and ensuring a solid foundational path in the energy sector moving forward.