Davis Polk advised The AES Corporation in an SEC-registered offering of $750 million aggregate principal amount of 5.5% senior notes due 2024. Goldman, Sachs & Co., Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC were the joint book-running managers for the offering of the senior notes.  

Davis Polk also advised AES in its concurrent cash tender offer for up to a total of $625 million aggregate principal amount of its 7.75% senior notes due 2015, 9.75% senior notes due 2016 and 8% senior notes due 2017.  Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC were the dealer managers for the tender offer.  

Based in Arlington, Virginia, AES is a Fortune 200 global power company that provides affordable, sustainable energy to 21 countries through its diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. The company’s workforce of 22,000 people is committed to operational excellence and meeting the world’s changing power needs. AES’s 2013 revenues were $16 billion and it owns and manages $40 billion in total assets.  

The Davis Polk capital markets team included partner Richard D. Truesdell Jr. and associate Roman Ajzen. The tax team included partner Michael Mollerus, and associates Nicole P. Field and Dao Fu. Counsel Hayden S. Baker and associate Amy E. Turner provided environmental advice. Counsel Catherine L. Martin provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.