Century Aluminum Prices Private Offering Of $400 Mln Of 6.875% Senior Secured Notes Due August 2032

(RTTNews) - Century Aluminum Company (CENX) announced that it priced its private offering of $400 million aggregate principal amount of 6.875% senior secured notes due August 2032.

The Secured Notes will be issued at a price equal to 100.00% of their aggregate principal amount. The Secured Notes will pay interest semi-annually in arrears on February 1 and August 1 of each year, beginning on February 1, 2026, at a rate of 6.875% per annum in cash. The Secured Notes will mature on August 1, 2032, unless earlier redeemed or repurchased. The sale of the Secured Notes is expected to close on July 22, 2025.

The Secured Notes will be guaranteed by Century's domestic restricted subsidiaries, and Century's obligations under the Secured Notes will be secured by liens on substantially all of its and its subsidiary guarantors assets other than collateral securing Centurys indebtedness under its credit agreement and certain other excluded property.

The company noted that it will use net proceeds from the Secured Notes Offering to refinance its 7.50% Senior Secured Notes due 2028, to repay borrowings under its credit facilities and to pay fees and expenses relating to these transactions.