Company: CENX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038882
Chunk: 9

Company: CENTURY ALUMINUM CO
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 9
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 case of an event of default or failure to comply with certain financial covenants. As of June 30, 2025, we and our subsidiaries were in compliance with all such covenants or maintained availability above such covenant triggers.

On July 22, 2025, we completed the issuance of $400 million of Senior Secured Notes due 2032 (the "2032 Notes").  We also amended our U.S. Credit Facility to, among other things, extend the maturity date to July 22, 2030. With proceeds of the 2032 Notes, we redeemed the 2028 Notes at a redemption price of 101.875% and intend to use the balance of the proceeds from the 2032 Notes issuance to pay down our existing credit facilities.

See Note 11. Debt and Note 16. Subsequent Events to the consolidated financial statements included herein for additional information on our debt.

Available Cash

Our available cash and cash equivalents balance at June 30, 2025 was $40.7 million compared to $32.9 million at December 31, 2024. 

Sources and Uses of Cash

Our statements of cash flows are summarized below:

Six months ended June 30,(in millions)20252024Net cash provided by (used in) operating activities$80.2 $(3.3)Net cash used in investing activities(33.6)(44.3)Net cash (used in) provided by financing activities(38.8)0.1 Change in cash, cash equivalents and restricted cash$7.8 $(47.5)

The change in net cash provided by operating activities during the six months ended June 30, 2025 compared to net cash used in operating activities for the six months ended June 30, 2024 was primarily due to lower cash outflows from accounts payable associated with the timing of payments for alumina and higher cash inflows from inventories attributable to higher shipments in the current period, partially offset by lower cash inflows from accounts receivable associated with higher realized prices of outstanding receipts from sales of aluminum and alumina.

The decrease in net cash used in investing activities during the six months ended June 30, 2025 compared to the six months ended June 30, 2024 was primarily due to higher proceeds from our joint venture partner to fund the construction of  co-tenancy assets.

36

The change in net cash used in financing activities during the six months ended June 30,