Davis Polk advised The AES Corporation in an SEC-registered offering of $775 million aggregate principal amount of floating-rate notes due 2019. Citigroup Global Markets Inc., Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated were the joint book-running managers for the offering of the notes.
Based in Arlington, Virginia, AES is a Fortune 200 global power company that provides affordable, sustainable energy to 21 countries through its diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. The company’s workforce of 22,000 people is committed to operational excellence and meeting the world’s changing power needs. AES’s 2013 revenues were $16 billion and it owns and manages $40 billion in total assets.
The Davis Polk capital markets team included partner Richard D. Truesdell Jr., associate Kavita Paw and law clerk Jeremy Larkins. The tax team included partner Michael Mollerus and law clerk Catherine L. Chu. Counsel Hayden S. Baker provided environmental advice. Associate Vanessa K. Rakel provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.
