AES · The AES Corporation

Summary

The AES Corporation entered into three amendments to its credit facilities on March 13 and 16, 2026: Amendment No. 2 with Citibank (to the September 24, 2021 Credit Agreement), First Amendment with SMBC (to the December 6, 2024 Credit Agreement), and Amendment No. 1 with Barclays (to the December 8, 2025 Letter of Credit Agreement). These amendments provide consent to the pending merger with Horizon Parent, L.P. and modify change of control provisions to permit ownership by Global Infrastructure Management, LLC, EQT Fund Management S.à r.l., Qatar Investment Authority, and affiliates.

Key takeaways

• Entered Amendment No. 2 to Citi Credit Agreement on March 13, 2026, amending Eighth Amended and Restated Credit Agreement dated September 24, 2021
• Entered SMBC First Amendment to Credit Agreement on March 16, 2026, amending agreement dated December 6, 2024
• Entered Barclays Amendment No. 1 to Letter of Credit Agreement on March 16, 2026, amending agreement dated December 8, 2025
• Amendments consent to consummation of Merger under Agreement and Plan of Merger dated March 1, 2026, with Horizon Parent, L.P. and Horizon Merger Sub, Inc.
• Amendments modify change of control provisions to allow direct or indirect ownership by Global Infrastructure Management, LLC, EQT Fund Management S.à r.l., Qatar Investment Authority, and affiliated investment vehicles
• Consent effective unless Merger Agreement terminated