AES Tietê prices US$300-million bond issue in Brazil

Advised by Chadbourne & Parke, Davis Polk & Wardwell and Milbank, Tweed, Hadley & McCloy, AES Tietê Holdings Ltd, a subsidiary of The AES Corporation, closed a US$-300 million, 15-year project bond at 11.50 per cent due 2015 through 144A/Regulation S offering of certificates of interest in a guarantor trust. The primary purpose of the offering, finalised in May, was to refinance existing indebtedness, provided by the Brazilian National Development Bank (BNDES), which AES Tietê Holdings used in its acquisition of a controlling interest in AES Tietê SA, in 1999.

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