Green Bond Fact SheetAES Gener (AES Corporation)

Date: 14/10/2019

Issue date: 07-10-2019 Maturity date: 07-10-2019 Tenor: 59.5
Issuer NameAES Gener (AESCorporation)

Amount Issued

USD450m

Country of risk

USA

CBI Database

Included

Issuer Type1

Non-financial
corporate

Bond TypePrivate placement

Green Bond Framework

N/A

Second party opinion

Sustainalytics

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☒ Solar☒ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☒ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission
vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
Reporting

AES Gener intends to publish a Green Bond Report containing allocation and impact
information annually on its website. Allocation reporting will include the amount of net
proceeds allocated to Eligible Green Projects, as well as the pending amount yet to beallocated to eligible projects. Impact reporting, where feasible, will include the expected GHG
emissions avoided and expected electricity output in GWh.

Company information

AES Gener is a Chilean subsidiary of AES Corporation (USA). They produce energy andoperate hydroelectric, solar and thermoelectric plants with a total capacity of over 5GW in
Chile, Colombia, and Argentina. AES Corporation also owns Brazilian AES Tietê, anothergreen bond issuer from this year.

Firsts, records andcertificationsFirst Chilean green bond by an energy producer (although other bonds had financed energy
projects). First green bond from Chile with a maturity of more than 50 years (longest-dated
had been the Republic of Chile’s USD green sovereign, with a 31-year term).

Proceeds description

The green bond will finance and/or refinance investments in the issuer’s renewable energy
activities. Eligible categories include wind, solar and battery storage facilities.

Climate Bonds view

This is the first GB from an energy producer in Chile, a country with just over 20% of its
energy mix from renewable sources and intentions to grow this share. AES Gener is one of
the largest energy companies in Chile and its intentions to spend the proceeds not just on
wind and solar farms but also on battery technology is promising.
BAML, Citi, Goldman Sachs, JPM and Santander

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign