Company: CENX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000949157-25-000035
Chunk: 32

Company: CENTURY ALUMINUM CO
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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. revolving credit facility"). On June 14, 2022 we amended our U.S. revolving credit facility, increasing our borrowing capacity to $250.0 million in the aggregate, including up to $150.0 million under a letter of credit sub-facility. The U.S. revolving credit facility matures on June 14, 2027.Any letters of credit issued and outstanding under the U.S. revolving credit facility reduce our borrowing availability on a dollar-for-dollar basis. At March 31, 2025, there were $2.0 million of outstanding borrowings and $63.7 million of outstanding letters of credit issued under our U.S. revolving credit facility. Principal payments, if any, are due upon maturity of the U.S. revolving credit facility and may be prepaid without penalty.Status of our U.S. revolving credit facility:March 31, 2025Credit facility maximum amount$250.0 Borrowing availability189.4 Outstanding letters of credit issued63.7 Outstanding borrowings2.0 Borrowing availability, net of outstanding letters of credit and borrowings123.7 Iceland Revolving Credit FacilityOur wholly-owned subsidiary, Nordural Grundartangi ehf ("Grundartangi"), entered into a revolving credit facility agreement with Landsbankinn hf., dated November 2013, as amended (the "Iceland revolving credit facility"), which originally provided for borrowings of up to $50.0 million in the aggregate. On February 4, 2022, we amended the Iceland revolving credit facility and increased the facility amount to $80.0 million. On September 28, 2022, we further amended the Iceland revolving credit facility and increased the facility amount to $100.0 million in the aggregate. Under the terms of the Iceland revolving credit facility, when Grundartangi borrows funds it will designate a repayment date, which may be any date prior to the maturity of the Iceland revolving credit facility. At March 31, 2025, there were $9.5 million of outstanding borrowings under our Iceland revolving credit facility. The Iceland revolving credit facility has a term through December 2026.Status of our Iceland revolving credit facility:March 31, 2025Credit facility maximum amount$100.0 Borrowing availability100.0 Outstanding letters of credit issued— Outstanding borrowings9.5 Borrowing availability, net of borrowings90.5 Grundartangi