AES Announces Partial Redemption of Outstanding 10% Senior Secured Notes Due 2005.Business Editors ARLINGTON, Va.--(BUSINESS WIRE)--Sept. 24, 2003 The AES Corporation (NYSE NYSE See: New York Stock Exchange :AES) announced today that it had called for redemption $7,060,000 aggregate principal amount of its outstanding 10% Senior Secured Notes due 2005. The notes will be redeemed on a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. basis on October 25, 2003 at a redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. equal to 100% of the principal amount thereof to be redeemed plus accrued and unpaid interest to the redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. . The redemption is being made out of "excess asset sale proceeds" and reflects the portion of asset sale proceeds allocable to the notes from asset sales that have closed in 2003. "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This news release may contain "forward-looking statements" regarding The AES Corporation's business. These statements are not historical facts, but statements that involve risks and uncertainties. Actual results could differ materially from those projected in these forward-looking statements. For a discussion of such risks and uncertainties, see "Risk Factors" in the Company's Annual Report on Form 10-K for the most recently ended fiscal year. AES is a leading global power company comprised of contract generation, competitive supply, large utilities and growth distribution businesses. The company's generating assets include interests in 119 facilities totaling over 46 gigawatts of capacity, in 28 countries. AES' electricity distribution network sells 89,614 gigawatt gig·a·watt n. Abbr. GW One billion (109) watts. hours per year to over 11 million end-use customers. For more general information visit our web site at www.aes.com or contact investor relations at investing@aes.com. |
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