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Indianapolis Power & Light Owner Extends Deadline for Debt-Restructuring Plan.
Knight Ridder/Tribune Business News, December, 2002
By J.K. Wall, The Indianapolis Star Knight Ridder/Tribune Business News
Dec. 5--AES Corp. extended until Friday the deadline for its bondholders to agree to a debt-restructuring plan, hoping to coax out the extra "yes" votes required to cement the deal.
AES, which owns Indianapolis Power & Light, needed at least 80 percent of bondholders to swap their existing notes for cash and new notes by 5 p.m. Tuesday. When the deadline arrived, 77 percent of $300 million in senior notes were tendered for the exchange, according to a company statement Wednesday.
Now, if enough additional bondholders agree to the deal by 5 p.m. Friday, AES would avoid defaulting on those loans, which are due Dec. 15. The change marks the second time AES has...
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