AES Gener Announces Expiration and Final Results of its Offer to Exchange Any and All of its Outstanding 7.50% Senior Notes due 2014

SANTIAGO, Chile, Aug. 11, 2011 /PRNewswire/ -- AES Gener S.A. (the "Company") announced today the final results of its previously announced offer to exchange any and all of its outstanding 7.50% Senior Notes due 2014 (the "Existing Notes") for its 5.25% Senior Notes due 2021 (the "New Notes") plus cash (the "Exchange Offer").  The Exchange Offer expired as scheduled at 11:59 pm, New York time, on August 10, 2011 (the "Exchange Expiration Date").  After the early exchange date of the Exchange Offer (5:00 pm, New York time, on July 27, 2011) and prior to the Exchange Expiration Date, an additional U.S.$1,682,000 of the Company's Existing Notes were validly tendered in the Exchange Offer.

As previously announced, the Company received as validly tendered and accepted for purchase U.S.$151,069,000 principal amount of its Existing Notes pursuant to its offer to purchase any and all of its Existing Notes for cash (the "Tender Offer"), which offer expired at 5:00 pm, New York time, on July 27, 2011.

The total aggregate principal amount of Existing Notes validly tendered in the Exchange Offer was U.S.$101,881,000. That principal amount, together with the principal amount of Existing Notes purchased pursuant to the Tender Offer, equal in total an aggregate U.S.$252,950,000 principal amount of Existing Notes, representing approximately 63.24% of the outstanding Existing Notes.  After giving effect to the U.S.$101,881,000 of New Notes issued in exchange for Existing Notes pursuant to the Exchange Offer, and the U.S.$299,801,000 of New Notes issued in the Company's previously announced contemporaneous offering for cash, a total of U.S.$401,682,000 of New Notes will be outstanding as of the final settlement date, which the Company expects to be August 12, 2011.

The Company also previously announced that it had received the requisite consents pursuant to the consent solicitation to execute a supplemental indenture to the Existing Notes indenture containing certain proposed amendments. Such supplemental indenture has been executed and is now effective.

THIS PRESS RELEASE IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITY.  THE NEW NOTES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS.  THE NEW NOTES ARE BEING ISSUED ONLY TO ELIGIBLE HOLDERS (AS DEFINED IN THE TENDER AND EXCHANGE OFFER AND CONSENT SOLICITATION STATEMENT DATED JULY 14, 2011).

The exchange offer was made solely pursuant to the tender and exchange offer and consent solicitation statement dated July 14, 2011 and the related letter of transmittal and consent, and only to such persons and in such jurisdictions as are permitted under applicable law.

SOURCE AES Gener S.A.