Compañía de Alumbrado Eléctrico de San Salvador, S.A. de C.V. (CAESS), Empresa Eléctrica de Oriente, S.A. de C.V. (EEO), AES CLESA S. en C. de C.V. (CLESA) y Distribuidora Eléctrica de Usulutan (DEUSEM)
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
The AES Corporation
USD $ 60,000,000
Project scope and objective
The proposed transaction is a payment facility to purchase accounts receivable for up to USD 120 million ("The Facility" or "The Transaction") that will be used to discount electricity bills issued by four (4) electricity distribution companies in El Salvador: i) Compañía de Alumbrado Eléctrico de San Salvador, SA de CV (CAESS); ii) Empresa Eléctrica de Oriente, S.A. de C.V. (EEO); (iii) AES CLESA S. en C. de C.V. (CLESA); and iv) Distribuidora Eléctrica de Usulután (DEUSEM) (hereinafter "AES El Salvador" or "the Companies"). The Companies are controlled, and majority owned by The AES Corporation. The invoices arise from Executive Decree No. 12 of the Executive Body for the Health Sector of March 21, 2020, for the deferral of payment of electricity consumers' invoices, in order to address the Companies' liquidity and working capital needs. The credit line will be available for up to three months and the deferred invoice payments shall be repaid in 24 monthly installments.
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