Century Aluminum Co 8-K, filed Jun 19, 2020
Century Aluminum Co (CENX)
8-K
2020-06-19
For: 2020-06-18
View Original
Added on
April 12, 2026
About this 8-K
Century Aluminum Co filed this 8-K on June 19, 2020, reporting on events of June 18, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): June 18, 2020
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Item 8.01. Other Events
On June 18, 2020, Century Aluminum Company (the “Company”) announced that it had priced its previously announced offering of $250,000,000 aggregate principal amount of senior secured notes due 2025 (the “Notes”). A copy of the press release announcing the Company’s pricing of its Notes is filed herewith as Exhibit 99.1 to this Form 8-K.
The Notes will be sold in an underwritten transaction to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 (the “Securities Act”), to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act, and to certain institutional accredited investors in exempt transactions under the Securities Act, including to an affiliate of Glencore plc, who has agreed to purchase from the initial purchasers $95 million principal amount of the Notes on the same terms and conditions as the other investors participating in the offering. The sale of the Notes is expected to close on July 1, 2020, subject to customary closing conditions.
This Form 8-K shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | Description | |||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CENTURY ALUMINUM COMPANY | ||||
Date: | June 19, 2020 | By: | /s/ Jesse E. Gary | |
Name: | Jesse E. Gary | |||
Title: | Executive Vice President, Chief Operating Officer and General Counsel | |||
Exhibit 99.1
CENTURY ALUMINUM COMPANY ANNOUNCES
PRICING OF $250 MILLION OF SENIOR SECURED NOTES
CHICAGO, IL - June 18, 2020 - Century Aluminum Company (NASDAQ: CENX) (“Century”) today announced the pricing of its previously announced private offering of $250,000,000 aggregate principal amount of senior secured notes due 2025 (the “New Notes”). The New Notes will be issued at a price equal to 99.0% of their face value. The New Notes will pay interest semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2021, at a rate of (i) 10.00% per annum in cash and (ii) 2.00% per annum in the form of additional notes or in cash, at Century’s option. The New Notes will mature on July 1, 2025, unless earlier redeemed or repurchased. The sale of the New Notes is expected to close on July 1, 2020, subject to customary closing conditions.
Net proceeds from the sale of the New Notes, together with available cash on hand, will be used to finance the purchase of any and all of Century’s $250,000,000 outstanding principal amount of 7.50% Senior Secured Notes due 2021 (the “Existing Notes”) pursuant to Century’s previously announced cash tender offer for the Existing Notes (the “Tender Offer”) and the redemption of any Existing Notes not acquired in the Tender Offer.
The New Notes have been offered and are being sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 (the “Securities Act”), to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act, and to certain institutional accredited investors in exempt transactions under the Securities Act. The New Notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the New notes nor shall there be any sale of New Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
This press release contains information about pending transactions, and there can be no assurance that these transactions will be completed.
About Century Aluminum
Century Aluminum Company owns primary aluminum capacity in the United States and Iceland. Century’s corporate offices are located in Chicago, Illinois. Visit www.centuryaluminum.com for more information.
Cautionary Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, without limitation, statements with respect to Century’s intention to complete the offering of the New Notes, the Tender Offer and the redemption of any Existing Notes not tendered in the Tender Offer. Forward-looking statements are statements about future events and are based on our current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Consequently, the forward-looking statements contained herein should not be regarded as representations that the projected outcomes can or will be achieved, and we do not undertake, and specifically disclaim, any obligation to revise any forward-looking statements to reflect the occurrence of future events or circumstances.
Contact
Peter Trpkovski (Investors and media) 312-696-3112
Source: Century Aluminum Company