Century Aluminum Company Closes Private Offering of $400 Million of Senior Secured Notes
Century Aluminum (NASDAQ: CENX) has successfully closed a private offering of $400 million in senior secured notes. The notes, due August 2032, carry a 6.875% interest rate payable semi-annually and were issued at 100% of their principal amount.
The company secured net proceeds of approximately $395 million after deducting costs. These funds will be used to refinance Century's 7.50% Senior Secured Notes due 2028, repay credit facility borrowings, and cover offering-related expenses. The new notes were exclusively offered to qualified institutional buyers under Rule 144A of the Securities Act.
Century Aluminum (NASDAQ: CENX) ha concluso con successo un'offerta privata di 400 milioni di dollari in obbligazioni senior garantite. Le obbligazioni, con scadenza ad agosto 2032, prevedono un tasso di interesse del 6,875% pagabile semestralmente e sono state emesse al 100% del loro valore nominale.
L'azienda ha ottenuto proventi netti di circa 395 milioni di dollari dopo le detrazioni dei costi. Questi fondi saranno utilizzati per rifinanziare le obbligazioni senior garantite al 7,50% in scadenza nel 2028, rimborsare i prestiti della linea di credito e coprire le spese legate all'offerta. Le nuove obbligazioni sono state offerte esclusivamente a investitori istituzionali qualificati ai sensi della Regola 144A del Securities Act.
Century Aluminum (NASDAQ: CENX) ha cerrado con 茅xito una oferta privada de 400 millones de d贸lares en notas senior garantizadas. Las notas, con vencimiento en agosto de 2032, tienen una tasa de inter茅s del 6,875% pagadera semestralmente y se emitieron al 100% de su valor nominal.
La compa帽铆a obtuvo ingresos netos de aproximadamente 395 millones de d贸lares despu茅s de deducir los costos. Estos fondos se utilizar谩n para refinanciar las notas senior garantizadas al 7.50% que vencen en 2028, pagar los pr茅stamos de la l铆nea de cr茅dito y cubrir los gastos relacionados con la oferta. Las nuevas notas se ofrecieron exclusivamente a compradores institucionales calificados bajo la Regla 144A de la Ley de Valores.
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Century Aluminum (NASDAQ: CENX) a cl么tur茅 avec succ猫s une offre priv茅e de 400 millions de dollars en obligations senior garanties. Ces obligations, arrivant 脿 茅ch茅ance en ao没t 2032, portent un taux d'int茅r锚t de 6,875% payable semestriellement et ont 茅t茅 茅mises 脿 100% de leur valeur nominale.
La soci茅t茅 a obtenu un produit net d'environ 395 millions de dollars apr猫s d茅duction des co没ts. Ces fonds seront utilis茅s pour refinancer les obligations senior garanties 脿 7,50% arrivant 脿 茅ch茅ance en 2028, rembourser les emprunts de la ligne de cr茅dit et couvrir les frais li茅s 脿 l'offre. Les nouvelles obligations ont 茅t茅 propos茅es exclusivement 脿 des acheteurs institutionnels qualifi茅s conform茅ment 脿 la r猫gle 144A du Securities Act.
Century Aluminum (NASDAQ: CENX) hat erfolgreich eine Privatplatzierung von 400 Millionen US-Dollar in vorrangigen besicherten Schuldverschreibungen abgeschlossen. Die Schuldverschreibungen, f盲llig im August 2032, haben einen Zinssatz von 6,875%, der halbj盲hrlich gezahlt wird, und wurden zu 100% ihres Nennwerts ausgegeben.
Das Unternehmen erzielte nach Abzug der Kosten Nettoerl枚se von etwa 395 Millionen US-Dollar. Diese Mittel werden verwendet, um die 7,50% vorrangigen besicherten Schuldverschreibungen von Century mit F盲lligkeit 2028 zu refinanzieren, Kreditfazilit盲ten zur眉ckzuzahlen und die mit dem Angebot verbundenen Kosten zu decken. Die neuen Schuldverschreibungen wurden ausschlie脽lich qualifizierten institutionellen K盲ufern gem盲脽 Regel 144A des Wertpapiergesetzes angeboten.
- Lower interest rate of 6.875% compared to existing 7.50% notes
- Extended debt maturity to 2032 from 2028
- Successful placement at 100% of principal amount indicating strong market acceptance
- Substantial debt burden with $400 million in new secured notes
- Additional expenses incurred with $5 million in offering costs
Insights
Century Aluminum refinances debt at lower rate (6.875% vs 7.50%), improving financial flexibility and extending maturity to 2032.
Century Aluminum has successfully closed a
The transaction accomplishes three key objectives for Century Aluminum: reducing interest expenses, extending debt maturity by four years from 2028 to 2032, and repaying borrowings under existing credit facilities. By pushing out the maturity timeline, the company has created additional financial flexibility and reduced near-term refinancing pressures.
The notes will pay interest semi-annually beginning February 2026. The private placement to qualified institutional buyers under Rule 144A suggests strong institutional interest in Century's debt, indicating market confidence in the company's financial trajectory. This successful refinancing strengthens Century's balance sheet by optimizing its debt structure with more favorable terms, potentially freeing up capital for operational investments or shareholder returns while extending its financial runway.
CHICAGO, July 22, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) (鈥淐entury鈥�) announced today that it closed its private offering of
The net proceeds from the offering were approximately
The Secured Notes were issued at a price equal to
The Secured Notes have been offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 鈥淪ecurities Act鈥�). The Secured 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 registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Secured Notes nor shall there be any sale of Secured Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
This press release contains information about pending or anticipated transactions, and there can be no assurance that these transactions will be completed.
About Century Aluminum Company
Century Aluminum is an integrated producer of bauxite, alumina, and primary aluminum products. Century is the largest producer of primary aluminum in the United States, and also operates production facilities in Iceland, the Netherlands and Jamaica.
Cautionary Statement Regarding Forward-Looking Information
This press release contains 鈥渇orward-looking statements鈥� within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to the 鈥渟afe harbor鈥� created by Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements about future events and are based on Century鈥檚 current expectations and include, without limitation, statements with respect to Century鈥檚 intention to refinance the 2028 Notes. These forward-looking statements may be identified by the words 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渉ope,鈥� 鈥渢arget,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥渟eek,鈥� 鈥渆stimate,鈥� 鈥減otential,鈥� 鈥減roject,鈥� 鈥渟cheduled,鈥� 鈥渇orecast鈥� or words of similar meaning, or future or conditional verbs such as 鈥渨ill,鈥� 鈥渨ould,鈥� 鈥渟hould,鈥� 鈥渃ould,鈥� 鈥渕ight,鈥� or 鈥渕ay.鈥� Forward-looking statements are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Consequently, the forward-looking statements contained herein should not be regarded as representations that the projected outcomes can or will be achieved, and we do not undertake, and specifically disclaim, any obligation to revise any forward-looking statements to reflect the occurrence of future events or circumstances.
INVESTOR CONTACT
Ryan Crawford
312-696-3132
MEDIA CONTACT
Tawn Earnest
614-698-6351
Source: Century Aluminum Company
FAQ
What is the interest rate and maturity of Century Aluminum's (CENX) new secured notes?
How much did Century Aluminum (CENX) raise in its senior secured notes offering?
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Who was eligible to purchase Century Aluminum's (CENX) new secured notes?
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