AES Announces Redemption Of AES Trust I Convertible Trust Preferred Securities.Business Editors ARLINGTON, Va.--(BUSINESS WIRE)--April 19, 2000 The AES Corporation AES Corporation AES (NYSE) is a Fortune 1000 company that generates and distributes electrical power. It was founded on January 28, 1981 by Roger Sant from the US Federal Energy Administration and Dennis Bakke from the Office of Management and Budget. (NYSE NYSE See: New York Stock Exchange : AES) announced today that all of the $2.6875 Term Convertible Securities, Series A ("TECONS") issued by AES Trust I have been called for redemption on June 14, 2000. The 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. is 103.359% (or $51.6795 per $50 TECONS) plus accrued and unpaid distributions thereon to the redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. ($.55 per $50 TECONS). The redemption agent is Banc One, National Association, 1 Bank One Plaza, Suite IL1-0126, Chicago, IL 60670-0126. The TECONS are convertible into AES common stock at any time prior to the close of business on June 13, 2000 (the business day prior to the redemption date) at a conversion rate of 1.3812 shares of AES common stock for each TECONS (equal to a conversion price of $36.20 per share of AES common stock). Holders may convert their TECONS prior to such time by delivering them together with an irrevocable conversion notice to the conversion agent, Banc One, National Association, through The Depository Trust Company's ("DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). ") Conversion Program ("RCNV RCNV Resource Center for Non-Violence "). The DTC contact is Tesh Gebremedhin at 212/855-5249. None of the information listed above has been adjusted to account for the 2-for-1 stock dividend payable on June 1, 2000 to holders of record on May 1, 2000. After adjusting for the stock dividend, the conversion rate would be 2.7624 shares of AES common stock for each TECONS (equal to a conversion price of $18.10 per share of AES common stock). AES is a leading global power company comprised of competitive generation, distribution and retail supply businesses in Argentina, Australia, Bangladesh, Brazil, Canada, China, Dominican Republic, El Salvador, Georgia, Hungary, India, Kazakhstan, the Netherlands, Mexico, Pakistan, Panama, the United Kingdom and the United States. For more general information visit our web site at www.aesc.com or contact investor relations Investor relations The process by which the corporation communicates with its investors. at investing@aesc.com. The list aes-pr-announce is an automated mailing list and can be found on the investing page of our web site. Those who subscribe to this list will receive updates when AES issues a press release. |
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