December 18, 2017 / 11:08 AM / 10 months ago

BRIEF-AES Agrees To Sell Equity Interest In Philippines Businesses For $1.05 Bln

Dec 18 (Reuters) - Aes Corp:

* AES AGREES TO SELL ITS EQUITY INTEREST IN BUSINESSES IN THE PHILIPPINES FOR $1.05 BILLION; PROCEEDS TO BE USED TO ACCELERATE PARENT DEBT PAY DOWN

* AES CORP - ‍SALE PROCEEDS TO BE USED TO ACCELERATE PARENT DEBT PAY DOWN​

* AES CORP - SALE INCLUDES AES’ 51% EQUITY INTEREST IN 630 MW MASINLOC COAL-FIRED POWER PLANT IN OPERATION, AMONG OTHERS

* AES CORP - ‍ACQUISITION WAS FUNDED WITH EQUITY CONTRIBUTED BY AES AND IFC AND $635 MILLION OF NON-RECOURSE DEBT​

* AES CORP - “‍ESTABLISHING A GOAL TO ATTAIN INVESTMENT GRADE RATINGS BY 2020”​

* AES -SMC GLOBAL POWER ALSO PURCHASING REMAINING 49% EQUITY INTEREST IN SAME ASSETS, HELD BY ELECTRICITY GENERATING PUBLIC COMPANY LIMITED FOR $850 MILLION​

* AES CORP- SALE ALSO INCLUDES 51% INTEREST IN 335 MW MASINLOC 2 COAL-FIRED POWER PLANT UNDER CONSTRUCTION, 10 MW MASINLOC ENERGY STORAGE PROJECT Source text for Eikon: Further company coverage:

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