Friday, AES Corp. (AES: News ) closed a private placement of $535 million of senior unsecured notes due 2016. Due to investor demand, the offering was increased by more than 50 percent, from $350 million to $535 million, netting proceeds of approximately $492 million.
The company intends to use the proceeds from the debt offering for general corporate purposes, including, but not limited to, payment of $368 million in debt maturing in 2009 and 2010, or replacement of the senior unsecured credit facility, which expires in 2010.
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