Company: CENX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000949157-25-000035
Chunk: 30

Company: CENTURY ALUMINUM CO
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 senior secured notes due April 1, 2028, net of financing fees of $1.8 million at March 31, 2025, interest payable semiannually248.2 248.1 2.75% convertible senior notes due May 1, 2028, net of financing fees of $1.1 million at March 31, 2025, interest payable semiannually85.2 85.1 Total$482.6 $528.2 (1)The IRBs are classified as current liabilities because they are remarketed weekly and could be required to be repaid upon demand if there is a failed remarketing. The interest rate at March 31, 2025 was 3.00%.(2)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at March 31, 2025 was 8.25%.(3)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at March 31, 2025 was 7.80%.(4)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at March 31, 2025 was 8.05%.(5)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at March 31, 2025 was 7.99%.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 March 31, 2025, the total estimated fair value of the 2028 Notes was $253.2 million. Although we use quoted market prices for identical debt instruments, the markets