Company: CENX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038882
Chunk: 49

Company: CENTURY ALUMINUM CO
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 are remarketed weekly and could be required to be repaid upon demand if there is a failed remarketing. The interest rate at June 30, 2025 was 2.05%.(2)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at June 30, 2025 was 8.00%.(3)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at June 30, 2025 was 7.82%.(4)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at June 30, 2025 was 8.04%.(5)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at June 30, 2025 was 7.98%.7.5% Senior Secured Notes due 2028In April 2021, we issued $250.0 million in aggregate principal amount of 7.5% senior secured notes due April 1, 2028 (the "2028 Notes"). We received proceeds of $245.2 million, after payment of certain financing fees and related expenses. The 2028 Notes bear interest semi-annually in arrears on April 1 and October 1 of each year, which began on October 1, 2021, at a rate of 7.5% per annum in cash. The 2028 Notes are senior secured obligations of Century, ranking equally in right of payment with all existing and future senior indebtedness of Century, but effectively senior to unsecured debt to the extent of the value of collateral.As of June 30, 2025, the total estimated fair value of the 2028 Notes was $254.1 million. Although we use quoted market prices for identical debt instruments, the markets on which they trade are not considered to be active and are therefore considered Level 2 fair value measurements. 2.75% Convertible Notes due 2028In April 2021, we completed a private offering of $86.3 million aggregate principal amount of convertible senior notes due May 1, 2028 unless earlier converted, repurchased, or redeemed (the "Convertible Notes"). The Convertible Notes were issued at a price of 100% of their aggregate principal amount. We received proceeds of $83.7 million, after payment of certain financing