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Century Aluminum Company Announces Results of Its Cash Tender Offer for Its 12.0% Senior Secured Notes Due 2025
CHICAGO, April 12, 2021 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) (“Century”) today announced that as of 5:00 p.m., New York City time, on
About this update from Century Aluminum Company
[{"type":"text","content":"CHICAGO, April 12, 2021 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) (“Century”) today announced that as of 5:00 p.m., New York City time, on April 9, 2021 (the “Expiration Time”), it had received tenders for an aggregate principal amount of $195,910,000 of its 12.0% Senior Secured Notes due 2025 (the “Notes”) pursuant to its previously announced cash tender offer (the “Tender Offer”) for any and all of the aggregate $250,000,000 outstanding principal amount of Notes, which commenced on April 5, 2021. Century will purchase all Notes validly tendered and not validly withdrawn at or prior to the Expiration Time on the settlement date for the Tender Offer, which is expected to be April 14, 2021 (the “Settlement Date”). Holders whose Notes have been accepted for purchase also will receive accrued and unpaid interest on the purchased Notes from the last interest payment date for such Notes up to, but excluding, the Settlement Date. Century’s obligation to accept and pay for Notes validly tendered and not validly withdrawn in the Tender Offer is subject to the satisfaction or waiver of certain conditions, including Century’s completion of financing transactions (the “Financings”)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 for the Notes accepted for purchase in the Tender Offer, the aggregate redemption price of the Notes expected to be outstanding following the completion of the Tender Offer and fees and expenses associated with the Tender Offer. On or about the Settlement Date, Century expects to issue a notice calling for the redemption on May 14, 2021 of any Notes not purchased upon completion of the Tender Offer (the “Redemption”), and to discharge the indenture for the Notes at such time. The Redemption will be made under and in accordance with the indenture governing the Notes. The redemption price will be equal to 100.00% of the principal amount of the Notes redeemed plus a make-whole premium calculated in accordance with the terms of the indenture. Notwithstanding any such redemption notice, Notes that are validly tendered, not validly withdrawn and accepted for purchase in the Tender Offer will be purchased under the Tender Offer. This press release does not constitute a notice of redemption with respe...