Century Aluminum Company Announces Cash Tender Offer for Its 12.0% Senior Secured Notes Due 2025

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[{"type":"text","content":"CHICAGO, April 05, 2021 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) (“Century”) today announced the commencement of a cash tender offer (the “Tender Offer”) to purchase any and all of Century’s 12.0% Senior Secured Notes due 2025 (the “Notes”). The Tender Offer is being made pursuant to an Offer to Purchase dated April 5, 2021 and the related Notice of Guaranteed Delivery. The Tender Offer will expire at 5:00 P.M., New York City time, on April 9, 2021 unless extended or earlier terminated (such date and time, as it may be extended, the “Expiration Time”). Tenders of the Notes may be withdrawn at any time at or prior to 5:00 P.M., New York City time, on April 9, 2021, unless extended or earlier terminated (such date and time, as it may be extended, the “Withdrawal Deadline”), but may not be withdrawn thereafter. The Tender Offer is being undertaken to refinance the Notes with longer maturity financing. The consideration for each $1,000 principal amount of Notes validly tendered, not validly withdrawn and accepted for purchase will be as set forth in the table below under “Tender Offer Consideration.” In addition, all holders of Notes accepted for purchase will receive accrued and unpaid interest on such Notes from the last interest payment date up to, but not including, the Settlement Date (which is expected to be April 14, 2021). Title of Notes CUSIP No./ISIN (144A) CUSIP No./ISIN (Reg S) CUSIP No./ISIN (IAI) Principal AmountOutstanding Tender Offer Consideration (1)12.0% Senior Secured Notes due 2025 156431 AL2/US156431AL20 U1565P AD8/USU1565PAD88 156431 AM0/US156431AM03 $250,000,000 $1,074.32 (1) Per $1,000 principal amount of Notes accepted for purchase. The Tender Offer is not conditioned on any minimum amount of Notes being tendered. However, Century’s obligation to accept for purchase and to pay for the Notes in the Tender Offer is subject to the satisfaction or waiver of a number of conditions, including Century’s completion of financing transactions (the “Financings”), on terms satisfactory to Century, pursuant to which Century receives net proceeds in an amount sufficient to pay the aggregate Tender Offer Consideration with respect to the Notes accepted for purchase in the Tender Offer, the aggregate redemption price of any Notes outstanding following the completion of the Tender Offer and fees and expen...

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