We are advising AES Ohio on the exchange offer

Davis Polk is advising The Dayton Power and Light Company (d/b/a AES Ohio) in connection with its offer to exchange approximately $375 million of its existing 4.550% first-mortgage bonds due 2030, which were previously issued in a private placement, for approximately $375 million of new 4.550% first-mortgage bonds due 2030, which have been registered under the Securities Act of 1933, as amended.

AES Ohio is a subsidiary of The AES Corporation and provides regulated electric utility service to more than 539,000 residential, commercial and industrial customers in a 6,000-square-mile service area in West Central Ohio. AES Ohio’s people operate and maintain more than 1,600 miles of transmission lines, 13,000 miles of overhead distribution lines, 4,500 miles of underground distribution lines and 160 substations feeding 490 distribution circuits.

The Davis Polk capital markets team includes partner Richard D. Truesdell Jr., counsel Jenna M. Godfrey and associates Joshua L. Bi and Shiqi Xiao. The tax team includes partner Kara L. Mungovan and associate Fred (Chen) Fu. Members of the Davis Polk team are based in the New York, Washington DC and London offices.

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