Century Aluminum Company announced a proposed private offering of $400 million aggregate principal amount of senior secured notes due July 2032. The offering is subject to market and other conditions.
The company intends to use the net proceeds from this offering to refinance its existing 7.50% Senior Secured Notes due 2028. Additionally, proceeds will be used to repay borrowings under Century's credit facilities and cover related fees and expenses.
This financing initiative aims to optimize Century's debt structure by potentially securing a lower interest rate and extending the maturity profile of its debt. The notes will be offered to qualified institutional buyers and certain non-U.S. persons.
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