Century Aluminum Company Announces Cash Tender Offer for its 7.500% Senior Secured Notes Due 2021

About this update from Century Aluminum Company

[{"type":"text","content":"CHICAGO, June 18, 2020 (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 7.500% Senior Secured Notes due 2021 (the “Notes”). The Tender Offer is being made pursuant to an Offer to Purchase dated June 18, 2020 and the related Notice of Guaranteed Delivery.\n The Tender Offer will expire at 5:00 P.M., New York City time, on June 26, 2020 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 Tenders of the Notes may be withdrawn at any time at or prior to 5:00 P.M., New York City time, on June 26, 2020, unless extended or earlier terminated (such date and time, as it may be extended, the “Withdrawal Deadline”), but may not be withdrawn thereafter.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 The consideration for each $1,000 principal amount of Notes validly tendered, not validly withdrawn and accepted for purchase will be as set forth in the table below under “Tender Offer Consideration.”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 July 1, 2020). Title of NotesCUSIP No./ ISIN (144A)CUSIP No./ ISIN (Reg S)PrincipalAmountOutstandingTender OfferConsideration (1)7.500% Senior SecuredNotes due 2021156431AK4/ US156431AK47U1565PAC0/ USU1565PAC06$250,000,000$1,000.00 (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 a financing transaction (the “Financing”), on terms satisfactory to Century, pursuant to which Century receives net proceeds in an amount sufficient to pay, together with available cash on hand, 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 expenses associated...

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