Century Aluminum Company announced the pricing of its previously proposed private offering of $400 million aggregate principal amount of senior secured notes. The notes will bear an interest rate of 6.875% per annum and are due in August 2032.
The notes were priced at 100.00% of their aggregate principal amount, with interest payable semi-annually. This pricing represents a lower interest rate compared to the 7.50% Senior Secured Notes due 2028 that Century intends to refinance.
The sale of these Secured Notes is expected to close on July 22, 2025, subject to customary closing conditions. The proceeds will be used to refinance the 2028 Notes, repay credit facility borrowings, and cover transaction-related fees.
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