AES Corporation (NYSE: AES) announced it has extended the deadline for consent solicitations from bondholders to March 18, 2026, at 5:00 p.m. New York time. The company also increased the consent fee from $1.00 to $2.50 per $1,000 principal amount of bonds.

The consent solicitations involve four series of senior notes: 5.450% Senior Notes due 2028, 3.950% Senior Notes due 2030, 2.450% Senior Notes due 2031, and 5.800% Senior Notes due 2032. AES seeks bondholder approval for proposed amendments to the indentures governing these notes.

The increased consent fee is contingent on obtaining consent from holders of a majority of the aggregate principal amount of each applicable bond series and the completion of a merger transaction. AES expects to pay the consent fees when the merger is completed, which is anticipated in late 2026 or early 2027.

AES also revised the definition of "Permitted Holders" in the proposed amendments, according to a supplement to the consent solicitation statement dated March 16, 2026.

Bondholders who previously granted consents do not need to take additional action to receive the increased consent fee. Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are serving as solicitation agents for the consent solicitations.

The consent solicitations are part of a proposed transaction between AES and Horizon Parent, L.P. AES expects to file a proxy statement with the Securities and Exchange Commission regarding the proposed transaction.