AES Panamá Generation Holdings
AES Panamá Generation Holdings S.R.L. (the "Issuer") issued on August 14, 2020 a total of USD $1,380,000,000 Senior Secured Senior Notes (the "Notes") at a rate of 4.375% maturing on May 31, 2030. The Notes were recorded accordingly to the guidelines of the Superintendency of the Panama Stock Market and registered in the Panama and Singapore stock exchanges.
The Issuer is a limited liability company, organized under the laws of the Republic of Panama, domiciled in Panama since March 25, 2020, in the commercial section of the Public Registry of Panama, Folio No. 155692836 with commercial address of Panama Pacifico, International Business Park, Building 3855, Office 206, Township of Veracruz, District of Arraiján, Province of Panama Oeste, Republic of Panama. Its indirect majority shareholder is AES Corporation, a company registered on the New York Stock Exchange, with a presence in 14 countries on 4 continents. Also, it is listed by Fortune magazine as one of the 500 largest companies in the energy industry.
The issuance of the Notes was used to completely repay the existing debts of AES Panamá, Gas Natural Atlántico and Costa Norte LNG Terminal and partially repay the AES Changuinola notes (the “Operating Companies”). This allowed for the Operating Companies to diversify their individual risk and capitalize the diversified portfolio of assets that AES in Panama has to generate electricity. The Issuer transferred to the Operating Companies, via intercompany debt contracts, the corresponding amount of debt so that they could repay their individual debts. The notes are guaranteed by the intercompany debt contracts that the Issuer signed with each of the Operating Companies, the money within the trust created as part of the financing structure and the AES shares that were pledged to the trust.
A great place to work
We are a great place to work and one of the most attractive companies in the sector: in the survey carried out in 2019 by the Great Place to Work Institute (GPTW), we were recognized as one of the best places to work in the category of more than 1,000 people. Likewise, in the survey of Most Attractive Companies Where to Work (EMAT) of Tecoloco of 2019, we stood out among the first 10 places in a ranking of 50 companies.
These results reflect our effort to enhance our practices of value and to promote the professional growth and development of our collaborators continuously, being aware of the importance of building a reputation based on effort, experience and the service vocation of all our people.
