Cases & Deals

Committee of AES Eastern Energy Certificateholders credit bids for assets and backstops $70 million note offering

Clients Committee of AES Eastern Energy Certificateholders

Jones Day represented a subcommittee of certificateholders in connection with its rights related to the credit bid of $240 million of Pass-Through Trust Certificates for two generation facilities of AES Eastern Energy.  AES Eastern Energy's chapter 11 cases are pending before the United States Bankruptcy Court for the District of Delaware.  As part of the credit bid transaction, the subcommittee also backstopped the offering of $70 million in convertible notes to Upstate New York Power Producers, Inc., the entity that ultimately became the owner and operator of the assets.

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