AES Gener S.A. Junior Subordinated Notes Offering and Cash Tender Offer
3/26/2019

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A/Regulation S offering by AES Gener S.A. of an aggregate principal amount of $550 million of 7.125% junior subordinated capital notes due 2079 and the dealer managers in connection with the tender offer by AES Gener S.A. to purchase any and all of its outstanding 8.375% junior subordinated capital notes due 2073.

AES Gener is engaged in the generation, transmission and supply of electricity in Chile, Argentina and Colombia. AES Gener has a diverse generation portfolio composed of hydroelectric, coal, gas, diesel and biomass facilities in Chile and is Chile’s second largest electricity generation company in terms of gross generation. AES Gener also operates the third largest dam-based hydroelectric plant in Colombia and a combined cycle facility in Salta, Argentina.

The Davis Polk capital markets team included partner Maurice Blanco and counsel Drew Glover. The tax team included partner Mario J. Verdolini and associate Liang Zhang. Members of the Davis Polk team are based in the New York and Northern California offices.