IPALCO ENTERPRISES, INC.: debt financing — IPALCO issues $400M 5.75% notes due 2034; AES Indiana issues $650M 5.70% bonds due 2054

IPALCO ENTERPRISES, INC.

IPALCO issued $400M aggregate principal of 5.750% senior secured notes due April 1, 2034.
AES Indiana issued $650M aggregate principal of 5.700% First Mortgage Bonds due April 1, 2054.
IPALCO will use net proceeds to redeem $405M of its 3.70% senior secured notes due 2024.
AES Indiana will use net proceeds to repay $300M term loan and $350M revolving credit facility.
Notes secured by pledge of AES Indiana stock; bonds secured by substantially all AES Indiana assets.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

IPALCO ENTERPRISES, INC. incurred senior notes of $400 million aggregate principal amount with U.S. Bank Trust Company, National Association at 5.750% maturing April 1, 2034.

Instrument: senior notes
Principal: $400 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 5.750%
Maturity: April 1, 2034
Event: incurrence

Exact text from the filing

On March 14, 2024, IPALCO Enterprises, Inc. (“IPALCO”) completed its previously announced sale of $400 million aggregate principal amount of 5.750% senior secured notes due 2034 (the “Notes”) pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

IPALCO ENTERPRISES, INC. incurred senior notes of $650 million aggregate principal amount with The Bank of New York Mellon Trust Company, N.A. at 5.700% maturing April 1, 2054.

Instrument: senior notes
Principal: $650 million aggregate principal amount
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 5.700%
Maturity: April 1, 2054
Event: incurrence

Exact text from the filing

On March 18, 2024, AES Indiana completed its previously announced sale of $650 million aggregate principal amount of 5.700% First Mortgage Bonds due 2054 (the “Bonds”) pursuant to Rule 144A and Regulation S under the Securities Act.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IPALCO ENTERPRISES, INC. entered into Pledge Agreement Supplement dated March 14, 2024 with The Bank of New York Mellon Trust Company, N.A. valued at Pledge agreement supplement to secure the Notes (effective 2024-03-14).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Value: Pledge agreement supplement to secure the Notes
Effective: 2024-03-14

Exact text from the filing

IPALCO has entered into a Pledge Agreement Supplement with The Bank of New York Mellon Trust Company, N.A., as successor collateral agent (the “Collateral Agent”), dated March 14, 2024 (the “Pledge Agreement Supplement”), to the Pledge Agreement between IPALCO and The Bank of New York Mellon Trust Company, N.A., as successor to Bank One, National Association, dated November 14, 2001, as supplemented by a Pledge Agreement Supplement dated June 25, 2015, a Pledge Agreement Supplement dated August 22, 2017, a Pledge Agreement Supplement dated October 31, 2018, and a Pledge Agreement Supplement dated April 14, 2020, each by IPALCO in favor of the Collateral Agent.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IPALCO ENTERPRISES, INC. entered into Indenture dated March 14, 2024 with U.S. Bank Trust Company, National Association valued at $400 million aggregate principal amount of 5.750% senior secured notes due 2034 (effective 2024-03-14).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $400 million aggregate principal amount of 5.750% senior secured notes due 2034
Effective: 2024-03-14

Exact text from the filing

On March 14, 2024, IPALCO Enterprises, Inc. (“IPALCO”) completed its previously announced sale of $400 million aggregate principal amount of 5.750% senior secured notes due 2034 (the “Notes”) pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IPALCO ENTERPRISES, INC. entered into Seventy-Second Supplemental Indenture dated March 1, 2024 with The Bank of New York Mellon Trust Company, N.A. valued at $650 million aggregate principal amount of 5.700% First Mortgage Bonds due 2054 (effective 2024-03-18).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Value: $650 million aggregate principal amount of 5.700% First Mortgage Bonds due 2054
Effective: 2024-03-18

Exact text from the filing

IPALCO has entered into a Pledge Agreement Supplement with The Bank of New York Mellon Trust Company, N.A., as successor collateral agent (the “Collateral Agent”), dated March 14, 2024 (the “Pledge Agreement Supplement”), to the Pledge Agreement between IPALCO and The Bank of New York Mellon Trust Company, N.A., as successor to Bank One, National Association, dated November 14, 2001, as supplemented by a Pledge Agreement Supplement dated June 25, 2015, a Pledge Agreement Supplement dated August 22, 2017, a Pledge Agreement Supplement dated October 31, 2018, and a Pledge Agreement Supplement dated April 14, 2020, each by IPALCO in favor of the Collateral Agent.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IPALCO ENTERPRISES, INC. entered into Registration Rights Agreement dated March 14, 2024 with J.P. Morgan Securities LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. valued at Registration rights agreement for exchange offer of the Notes (effective 2024-03-14).

Action: entry
Agreement: underwriting
Counterparty: J.P. Morgan Securities LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc.
Value: Registration rights agreement for exchange offer of the Notes
Effective: 2024-03-14

Exact text from the filing

IPALCO has also agreed to file a registration statement with respect to a registered offer to exchange the Notes for new exchange notes, which will have terms substantially identical in all material respects to the Notes (except that the new exchange notes will not contain terms with respect to transfer restrictions and additional interest) under the Securities Act, with the Securities and Exchange Commission pursuant to a Registration Rights Agreement, dated as of March 14, 2024 (the “Registration Rights Agreement”), among IPALCO and J.P. Morgan Securities LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc., as representatives of the initial purchasers of the Notes.

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Source: SEC EDGAR

accession 0000728391-24-000026

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