AES extends deadline for consent solicitation on 2028 notes.

By THE STAR STAFF

AES Corporation announced Monday that it has extended the deadline for its ongoing consent solicitation involving its 5.450% senior notes due 2028.

The new expiration time is 5 p.m. (New York City time) on today, March 31, 2026, unless the company decides to end the process earlier. The solicitation had originally been set to expire on March 27.

As of the original deadline, investors holding about 49% of the $900 million total outstanding 2028 notes had submitted valid consents. AES is seeking approval for proposed amendments to the indenture governing those notes.

If AES receives consents from holders representing more than half of the total outstanding principal, and if all other conditions are met, the company will make a total consent payment of $2.25 million. That amount will be shared among all noteholders who submit valid, non‑revoked consents before the new expiration time.

Aside from the new deadline, all other terms of the consent solicitation remain unchanged. Investors who have already submitted their consents do not need to take any additional action.

The solicitation is being conducted according to the terms outlined in AES’s consent solicitation statement dated March 5, 2026, and its subsequent supplements issued on March 16 and March 19.

Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are acting as solicitation agents. Global Bondholder Services Corp. is serving as the information and tabulation agent.

AES operates a major 454-megawatt (MW) coal-fired power plant in Guayama, on Puerto Rico’s southern coast, which has been in operation since 2002 and is scheduled to transition to renewable fuel sources after 2027. Additionally, through its affiliate Clean Flexible Energy, AES operates the 20-MW AES Ilumina solar facility in Guayama and is developing the Marahú solar and storage project. As of March 2026, AES Corp. is undergoing a massive transformation and restructuring, culminating in an agreement to be acquired by a consortium led by Global Infrastructure Partners -- part of BlackRock -- and EQT Infrastructure VI. The move, described as a “public-to-private” buyout, is intended to provide the company with greater financial flexibility for its long-term energy transition strategies, rather than undergoing a forced, distressed restructuring due to debt pressure.