Company: CENX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050200
Chunk: 50

Company: CENTURY ALUMINUM CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 of Term SOFR Adjustment to 0.10% per annum for all interest periods.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 September 30, 2025, there were no outstanding borrowings and $49.5 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:September 30, 2025Credit facility maximum amount$250.0 Borrowing availability212.8 Outstanding letters of credit issued49.5 Outstanding borrowings— Borrowing availability, net of outstanding letters of credit and borrowings163.3 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 September 30, 2025, there were $16.5 million outstanding borrowings under our Iceland revolving credit facility. The Iceland revolving credit facility matures in December 2026.Status of our Iceland revolving credit facility:September 30, 2025Credit facility maximum amount$100.0 Borrowing availability100.0 Outstanding letters of credit issued— Outstanding borrowings16.5 Borrowing availability, net of borrowings83.5 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