Key Developments: AES Corp (AES)

AES on New York Consolidated

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11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

SunEdison Inc completes acquisition of SRP from AES Corp's subsidiary
Thursday, 3 Jul 2014 07:00am EDT 

SunEdison Inc:Completed its acquisition of a 50 pct ownership stake in Silver Ridge Power LLC (SRP) from a subsidiary of AES Corp for about $178.6 million in cash.Through its ownership in the SRP joint venture, SunEdison now owns a 50 pct interest in - 336 MW of solar power plant operating projects, including the 266 MW Mt. Signal solar project in California.A 40 pct interest in the Tenaska Imperial Solar Energy Center West 183 MW solar power facility to be completed in 2016.The other 50 pct of the outstanding limited liability company interests of SRP remain held by an affiliate of Riverstone Holdings LLC.SunEdison will provide operations and management (O&M) and asset management for SRP's entire projects portfolio.  Full Article

AES sells minority stake in masinloc power plant and development projects in the Philippines to EGCO Group for $453 mln
Wednesday, 25 Jun 2014 04:30pm EDT 

AES Corp:Entered into an agreement to sell 45 pct of its interest in Masin-AES Pte Ltd, a wholly-owned subsidiary of AES, for $453 million.Masin-AES Pte Ltd owns AES' business interests in the Philippines, to Electricity Generating Public Company Limited (EGCO Group), a Thailand-based Independent Power Producer (IPP).Sale includes indirect stakes in the following: the 630 MW Masinloc coal-fired power plant in operation since 1998; expansion of the existing Masinloc facility; and about 60 MW of potential energy storage projects in advanced development.  Full Article

AES Corp reaches agreement to sell majority of its Solar Business for up to $207 million
Tuesday, 17 Jun 2014 05:02pm EDT 

AES Corp:Enters into definitive agreement with SunEdison, Inc. (SunEdison) to sell its 50 pct stake in 336 MW of solar photovoltaic (PV) projects owned by Silver Ridge Power, LLC (Silver Ridge), joint venture between AES and Riverstone Holdings LLC.Under the agreement, AES will sell its interest in solar PV projects in operation and under development in Europe, India and the United States for an equity purchase price of $165 mln.SunEdison also has an option to acquire AES' 50 pct ownership in 130 MW of solar PV projects in Italy for an additional $42 mln by Aug. 2015.This agreement does not include the sale of AES' 50 pct stake in the remaining 55 MW of solar PV projects in Puerto Rico and Spain.  Full Article

AES Corp completes sale of 100 pct. of its interest in Cameroon Assets to Actis
Friday, 13 Jun 2014 07:00am EDT 

AES Corp:Says that it has closed the previously disclosed sale of its entire equity interest in all three businesses in Cameroon to pan-emerging market investor Actis.AES has sold its interest in these three businesses for $202 million, net of closing price adjustments.The company received $162 million at closing and consistent with the sale agreement, the remaining non-contingent $40 million will be received in June 2016.  Full Article

AES Corp announces pricing of $775 million of floating rate notes in public offering
Thursday, 15 May 2014 06:26pm EDT 

AES Corp:Prices $775 mln aggregate principal amount of floating rate notes due 2019 (Notes).Notes will bear interest at rate of 3 pct above three-month LIBOR, reset quarterly.AES intends to use net proceeds from offering of Notes to repay substantially all of outstanding term loans under its senior secured term loan facility, after which AES expects about $30 mln would remain outstanding.Remaining terms loans outstanding under the senior secured term loan facility are expected to be repaid following the receipt of proceeds from a previously announced sale of assets in Cameroon.The closing of the offering of the Notes is expected to occur, on May 20, 2014.  Full Article

AES Corp announces public offering of floating rate notes
Thursday, 15 May 2014 07:36am EDT 

AES Corp:To offer floating rate notes due 2019.Intends to use net proceeds from offering to repay portion or all of outstanding term loans under senior secured term loan facility, and for general corporate purposes.AES intends to seek amendments to its senior secured term loan facility to lower effective interest rate and to provide additional covenant flexibility.  Full Article

AES Corp reaffirms FY 2014 EPS guidance
Thursday, 8 May 2014 06:00am EDT 

AES Corp:Expects FY 2014 adjusted EPS in the range of $1.30-$1.38.FY 2014 EPS of $1.35 - Thomson Reuters I/B/E/S.  Full Article

AES Corp announces quarterly dividend
Friday, 18 Apr 2014 08:00am EDT 

AES Corp:Says it has declared quarterly common stock dividend of 5 cents per share.Payable May 15.Record at close of business on May 1.  Full Article

AES Corp prices of $750 mln of senior notes in public offering
Tuesday, 4 Mar 2014 05:40pm EST 

AES Corp:Prices $750 mln aggregate principal amount of 5.500 pct senior notes due 2024.Intends to use the net proceeds from the offering of the Notes, as well as, if necessary, other available funds, to fund concurrent tender offers to purchase for cash certain series of AES's outstanding senior notes and to pay certain related fees and expenses.net proceeds from the offering remain after completion of the tender offers, AES intends to use such proceeds to retire certain outstanding indebtedness and for general corporate purposes.Closing of the offering of the Notes is expected to occur, subject to certain customary conditions, on March 7.  Full Article

AES Corp announces public offering of $500 mln of senior notes
Tuesday, 4 Mar 2014 07:00am EST 

AES Corp:Intends to offer $500 mln aggregate principal amount of senior notes due 2024 (the Notes).It intends to use the net proceeds to fund concurrent tender offers to purchase for cash certain series of AES's outstanding senior notes and to pay certain related fees and expenses.If any net proceeds from the offering remain after completion of the tender offers, it intends to use such proceeds to retire certain outstanding indebtedness and for general corporate purposes.  Full Article

AES plans to invest up to $2 billion in Philippines

MANILA, June 4 - American power firm AES Corp said on Wednesday it is planning to invest up to $2 billion to expand its coal-fired power plant in the northwestern Philippines and put up power storage facilities to help stabilise supply in the energy-deficient central provinces.

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