Company: CENX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038882
Chunk: 51

Company: CENTURY ALUMINUM CO
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 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:June 30, 2025Credit facility maximum amount$250.0 Borrowing availability208.6 Outstanding letters of credit issued47.3 Outstanding borrowings19.6 Borrowing availability, net of outstanding letters of credit and borrowings141.8 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 June 30, 2025, there were no 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:June 30, 2025Credit facility maximum amount$100.0 Borrowing availability100.0 Outstanding letters of credit issued— Outstanding borrowings— Borrowing availability, net of borrowings100.0 Grundartangi Casthouse FacilityOn November 2, 2021, in connection with the casthouse project at Grundartangi, we entered into an eight-year Term Facility Agreement with Arion Bank hf, to provide for borrowings up to $130.0 million (the "Casthouse Facility"). Under the Casthouse Facility, repayments of principal amounts will be made in equal quarterly installments equal to 1.739% of the principal amount, the first payment occurring in July 2024, with the remaining 60% of the principal amount to be paid no later than the termination date in December 2029. As of June 30, 2025