Century Aluminum closes $400 million senior secured notes offering; redeems 2028 notes
Century Aluminum closed a $400 million offering of 6.875% senior secured notes due August 1, 2032, on July 22, 2025, with net proceeds of about $395 million. The company will use the proceeds to redeem its $250 million 7.50% senior notes due 2028, repay credit facility borrowings and pay offering costs, and it also extended its credit facility to July 22, 2030. The notes are secured by liens on substantially all assets other than the credit facility's ABL Collateral, so the change replaces existing debt with new secured debt on different terms.
Key points
- $400 million of 6.875% senior secured notes due August 1, 2032, closed July 22, 2025; issued at 100% of principal, with interest payable February 1 and August 1 beginning February 1, 2026
- Net proceeds of about $395 million will refinance the $250 million 7.50% 2028 notes, repay credit facility borrowings and cover offering fees and expenses
- 2028 notes to be redeemed August 5, 2025, at an aggregate price of $261,145,833.33 (101.875% of principal plus accrued interest)
- Credit facility amended July 22, 2025, extending its maturity to July 22, 2030
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 24, 2025.
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