AES announces plans for public offering.ARLINGTON, Va.--(BUSINESS WIRE)--March 5, 1997--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) Wednesday announced plans to sell common stock and convertible securities under its existing effective Universal Shelf with an expected aggregate value of approximately $400 million to $450 million. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the sale will be used to fund the acquisition of the international business of Destec Energy Inc., announced by AES on Feb. 18, 1997, as well as to repay indebtedness incurred for previous acquisitions and for general corporate purposes. The underwriting group for the offerings, led by J. P. Morgan & Co., plans to market the securities in the U.S. and internationally. The offerings will be made only by means of prospectuses. AES is a leading global power company that currently owns or has an interest in 34 power facilities totaling over 11,000 megawatts in the United States, Argentina, Brazil, Pakistan, Hungary, Kazakstan, China and the United Kingdom. In addition to having assets of $3.7 billion, the company has more than $5 billion of projects in construction or late stages of development. AES is dedicated to providing electricity worldwide in a socially responsible way. -0- 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 CONTACT: The AES Corporation Kenneth R. Woodcock woodcock: see snipe. woodcock Any of five species (family Scolopacidae) of plump, sharp-billed migratory birds of damp, dense woodlands in North America, Europe, and Asia. , 703/522-1315 |
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