AES Panama Investor Presentation
16
AES in Panama Capital Structure
Debt Amortization
(US$ in millions)
→ $1,380M Notes, due 2030 issued by AES Panama
Generation Holdings as Issuer closed on Aug. 2020.
Coupon at 4.375%
•
$50 Unfunded Liquidity Facility
→ $105M Term Loan, due 2023 + $50M Liquidity Facility.
Interest Rate at L+3.50%
→ Proceeds used to refinance $1,267M of existing debt at
Operating Company level. Intercompany Loans were issued
between Issuer and OpCos
→ Investment Grade Rating issued by Moody's (Baa3) &
Fitch (BBB-)
Debt to EBITDA for December 2020 was: 6.08x
→ AES Changuinola maintains $90M of outstanding debt in
Local Bonds due 2023. Amortizing $20M per year until
maturity. 6.25% Coupon Rate
Average Life:
-9 years
25
35
30
27
12
47
20
22
25
25
25 1,192
2020
2021
2022 2023
2024 2025 2026
2027
2028
2029 2030
■Loan Bond
Outstanding Debt per Entity
AES
Panama
35%
AES Colon
49%
AES
Changuinola
16%
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