AES Announces Redemption of Outstanding 10% Senior Secured Notes Due 2005.Energy Editors/Business Editors ARLINGTON, Va.--(BUSINESS WIRE)--April 14, 2004 The AES Corporation (NYSE NYSE See: New York Stock Exchange :AES) announced today that it had called for redemption $3,084,000 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 May 14, 2004 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 an additional $20 million contingent payment received by AES in relation to its March 2003 sale of its equity interests in Mountainview Power Company and Mountainview Power Company LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . About AES AES is a leading global power company, with 2003 sales of $8.4 billion. AES delivers 45,000 megawatts of electricity to customers in 27 countries through 114 power facilities and 17 distribution companies. Our 30,000 people are committed to operational excellence and meeting the world's growing power needs. To learn more about AES, please visit www.aes.com or contact AES investor relations at investing@aes.com. |
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