IPALCO Enterprises, Inc. Announces Proposed Private Offering of $405 Million of Senior Secured Notes

INDIANAPOLIS–(BUSINESS WIRE)–IPALCO Enterprises, Inc. (the “Company”) announced today that it
intends, subject to market and other conditions, to offer $405 million
aggregate principal amount of senior secured notes (the “Notes”) in a
private offering exempt from registration in accordance with Rule 144A
and Regulation S under the United States Securities Act of 1933, as
amended (the “Securities Act”).

The Company intends to use the net proceeds to finance its repurchase or
redemption of its outstanding 5.00% Senior Secured Notes due 2018 (the
“2018 Notes”), of which $400 million is currently outstanding, and the
payment of related fees and expenses.

The Notes are being offered only to qualified institutional buyers in
reliance upon Rule 144A under the Securities Act, and, outside the
United States, only to non-U.S. persons pursuant to Regulation S under
the Securities Act. The Notes have not been registered under the
Securities Act or any state securities laws and may not be offered or
sold in the United States absent an effective registration statement or
an applicable exemption from registration requirements under the
Securities Act or any state securities laws.

This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor does it constitute
an offer, solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.

About the Company

IPALCO Enterprises, Inc. is a holding company which, through its
principal subsidiary Indianapolis Power & Light Company, a regulated
electric utility, engages primarily in generating, transmitting,
distributing and selling electric energy in the state of Indiana, with
its customer base concentrated in Indianapolis, Indiana. IPALCO
Enterprises, Inc. is owned by The AES Corporation, a global power
company, with CDP Infrastructure Fund GP, a wholly owned subsidiary of
La Caisse de dépôt et placement du Québec (CDPQ), as minority interest
holder.

Forward-Looking Statements

This press release may contain “forward-looking statements.” All
statements, other than statements of historical facts, that address
activities, events or developments that the Company expects, believes or
anticipates will or may occur in the future, are forward-looking
statements. These forward-looking statements are affected by risks,
uncertainties and assumptions, including but not limited to those set
forth in the Company’s filings with the Securities and Exchange
Commission. Accordingly, actual results or outcomes may differ
materially from those expressed in the forward-looking statements. You
should not place undue reliance on these forward-looking statements.

Contacts

IPALCO Enterprises, Inc.
Jeff MacKay, Treasurer, 317-261-8274