AES has extended the deadline for its consent solicitation for the 5.450% Senior Notes due 2028 to 5:00 p.m. New York City time on March 31, 2026, giving holders of the $900 million principal an additional three days to submit consents.
The original deadline was March 27, 2026, and 49% of the outstanding principal had already delivered consents. The consent fee totals $2.25 million, payable to holders who submit before the new deadline.
The extension is part of AES’s strategy to facilitate its pending acquisition by a consortium led by Global Infrastructure Partners and EQT. The merger agreement, signed March 1, 2026, values AES at $10.7 billion equity and $33.4 billion enterprise, with closing expected late 2026 or early 2027. Amending the indenture prevents the transaction from triggering a change‑of‑control clause that would accelerate repayment of the notes.
AES carries approximately $30.9 billion of debt and holds a BBB‑ credit rating. Maintaining the investment‑grade rating is a priority for the acquiring consortium, so securing noteholder consent is critical to avoid a credit downgrade and preserve financing flexibility.
The broader market has reacted to the merger announcement with analyst downgrades, including Morgan Stanley moving AES to Equalweight from Overweight, reflecting uncertainty around the transaction. The consent solicitation extension itself is a procedural step that does not alter AES’s financial position but is essential for the smooth completion of the deal.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.