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Morgan & Morgan advised The AES Corporation in the issuance and sale of US$310 million Senior Guaranteed Notes

Tuesday, 30 April 2013 / Published in Banking Law, Carlos Arturo Hoyos, Eduardo Gonzalez, expertise, Inocencio Galindo, Ramon Varela, Roberto Vidal, Securities and Capital Markets

Morgan & Morgan advised The AES Corporation in the issuance and sale of US$310 million Senior Guaranteed Notes

Morgan & Morgan advised AES El Salvador, S.A. de C.V., Compañía de Alumbrado Eléctrico de San Salvador, S.A. de C.V., Empresa Eléctrica de Oriente, S.A. de C.V., AES-Clesa y Compañía, S. en C. de C.V. and Distribuidora Eléctrica de Usulután, S.A. de C.V. – all affiliates of THE AES CORPORATION – in the issuance and sale of US$310,000,000 in Senior Guaranteed Notes due March 28, 2023 bearing interest at the annual rate of 6.75% by MMG Trust (Panama), S.A., a Panamanian corporation, acting not in its individual capacity but solely in its capacity as trustee of the AES El Salvador Trust II, a trust formed under Panamanian Law.  The Notes were issued under Rule 144A and registered before the Irish Stock Exchange. The transaction closed successfully on March 28, 2013 and was the second such issuance by AES affiliates in El Salvador.

All of the AES affiliates in this transaction were represented by the Morgan and Morgan team comprised by partners Inocencio Galindo and Ramón Varela, as well as associates Roberto Vidal and Carlos Hoyos.

 MMG Trust (Panama), S.A., was represented by partner Eduardo Gonzalez.

Morgan & Morgan actuó como asesor legal de AES El Salvador, S.A. de C.V., Compañía de Alumbrado Eléctrico de San Salvador, S.A. de C.V., Empresa Eléctrica de Oriente, S.A. de C.V., AES-Clesa y Compañía, S. en C. de C.V. y Distribuidora Eléctrica de Usulután, S.A. de C.V. – todas afiliadas de THE AES CORPORATION – en la emisión y venta de títulos de deuda por US$ 310,000,000 con interés anual del 6.75%, y vencimiento el 28 de marzo de 2023. Los títulos fueron emitidos por MMG Trust (Panamá), S.A., una sociedad panameña, actuando no es su capacidad individual, sino únicamente en su capacidad como fiduciario del fideicomiso AES El Salvador Trust II, fideicomiso conformado bajo las leyes panameñas.  La emisión se llevó a cabo bajo la Regla 144A y fue registrada en la Bolsa de Valores de Irlanda.  La transacción cerró exitosamente el 28 de marzo de 2013 y fue la segunda emisión de esta naturaleza que lleva a cabo AES en El Salvador.

Las afiliadas de AES en esta transacción fueron representadas por el equipo de Morgan & Morgan conformado por los socios Inocencio Galindo y Ramón Varela, y los asociados Roberto Vidal y Carlos Hoyos.

MMG Trust (Panamá), S.A., el socio Eduardo González asumió la responsabilidad principal.

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