Century Aluminum Company Announces Proposed Private Offering of $400 Million of Senior Secured Notes
Century Aluminum (NASDAQ: CENX) has announced a proposed private offering of $400 million senior secured notes due July 2032. The company plans to use the proceeds to refinance its existing 7.50% Senior Secured Notes due 2028, repay borrowings under its credit facilities, and cover related transaction fees and expenses.
The offering will be made to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act. The interest rate and other terms will be determined during pricing. The notes have not been registered under the Securities Act or state securities laws.
Century Aluminum (NASDAQ: CENX) ha annunciato un'offerta privata proposta di note senior garantite per 400 milioni di dollari con scadenza a luglio 2032. La societ脿 intende utilizzare i proventi per rifinanziare le attuali Note Senior Garantite al 7,50% con scadenza nel 2028, rimborsare i prestiti in essere sotto le sue linee di credito e coprire le spese e commissioni correlate alla transazione.
L'offerta sar脿 rivolta a investitori istituzionali qualificati ai sensi della Rule 144A e a soggetti non statunitensi secondo il Regulation S del Securities Act. Il tasso di interesse e le altre condizioni saranno determinati al momento della definizione del prezzo. Le note non sono state registrate ai sensi del Securities Act n茅 delle leggi statali sui titoli.
Century Aluminum (NASDAQ: CENX) ha anunciado una oferta privada propuesta de notas senior garantizadas por 400 millones de d贸lares con vencimiento en julio de 2032. La compa帽铆a planea usar los ingresos para refinanciar sus Notas Senior Garantizadas al 7.50% con vencimiento en 2028, pagar pr茅stamos bajo sus l铆neas de cr茅dito y cubrir los costos y gastos relacionados con la transacci贸n.
La oferta se realizar谩 a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo el Regulation S de la Ley de Valores. La tasa de inter茅s y otros t茅rminos se determinar谩n durante la fijaci贸n del precio. Las notas no han sido registradas bajo la Ley de Valores ni las leyes estatales de valores.
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Century Aluminum (NASDAQ : CENX) a annonc茅 une offre priv茅e propos茅e de obligations senior garanties de 400 millions de dollars arrivant 脿 茅ch茅ance en juillet 2032. La soci茅t茅 pr茅voit d'utiliser les fonds pour refinancer ses obligations senior garanties 脿 7,50 % arrivant 脿 茅ch茅ance en 2028, rembourser les emprunts contract茅s dans le cadre de ses facilit茅s de cr茅dit et couvrir les frais et d茅penses li茅s 脿 la transaction.
L'offre sera destin茅e aux investisseurs institutionnels qualifi茅s conform茅ment 脿 la r猫gle 144A et aux personnes non am茅ricaines selon le r猫glement S du Securities Act. Le taux d'int茅r锚t et les autres conditions seront d茅termin茅s lors de la fixation du prix. Les obligations n'ont pas 茅t茅 enregistr茅es en vertu du Securities Act ni des lois sur les valeurs mobili猫res des 脡tats.
Century Aluminum (NASDAQ: CENX) hat ein geplantes Privatangebot von vorrangigen besicherten Schuldverschreibungen im Wert von 400 Millionen US-Dollar mit F盲lligkeit im Juli 2032 angek眉ndigt. Das Unternehmen plant, die Erl枚se zur Refinanzierung seiner bestehenden 7,50% vorrangigen besicherten Schuldverschreibungen mit F盲lligkeit 2028, zur R眉ckzahlung von Krediten aus seinen Kreditfazilit盲ten sowie zur Deckung damit verbundener Transaktionsgeb眉hren und -kosten zu verwenden.
Das Angebot richtet sich an qualifizierte institutionelle K盲ufer gem盲脽 Rule 144A und an Nicht-US-Personen gem盲脽 Regulation S des Securities Act. Der Zinssatz und weitere Bedingungen werden bei der Preisfestsetzung bestimmt. Die Schuldverschreibungen sind weder nach dem Securities Act noch nach staatlichen Wertpapiergesetzen registriert.
- Potential improvement in debt structure through refinancing of 2028 Notes
- Opportunity to optimize borrowing costs depending on new interest rate terms
- Additional secured debt obligation of $400 million
- Transaction fees and expenses will impact cash position
Insights
Century Aluminum's $400M debt refinancing could improve capital structure by extending maturities and potentially securing better terms.
Century Aluminum is looking to refinance its capital structure through a
The proposed refinancing would extend the company's debt maturity profile by about four years, from 2028 to 2032. This extension provides Century with greater financial flexibility and reduces near-term refinancing risk, which is particularly valuable in the cyclical aluminum industry where cash flows can fluctuate significantly with commodity prices.
While the interest rate for the new notes hasn't been disclosed yet, this refinancing could potentially allow Century to lock in more favorable terms if market conditions permit. The aluminum sector has faced volatility in recent years due to energy price fluctuations, trade policies, and shifting global demand patterns, making debt management a crucial aspect of the company's financial strategy.
As with any refinancing, investors should watch for the final pricing details to determine whether the new notes will enhance Century's interest expense profile or simply extend maturities. The transaction structure as a private placement to qualified institutional buyers under Rule 144A suggests the company is targeting sophisticated investors familiar with the industry and its credit profile.
CHICAGO, July 16, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) (鈥淐entury鈥�) announced today a proposed private offering of
The interest rate and other terms of the Secured Notes will be determined at the pricing of the Secured Notes Offering.
The Secured Notes will be offered and sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 (the 鈥淪ecurities Act鈥�) and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. 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 complete the offering of the Secured Notes and 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 size and purpose of Century Aluminum's (CENX) new notes offering?
When do Century Aluminum's (CENX) new secured notes mature?
Who can purchase Century Aluminum's (CENX) new secured notes?
What are the interest rate terms for CENX's new $400M secured notes?
What will Century Aluminum use the $400M notes proceeds for?
