Century Aluminum Company Announces Extension of Exchange Offer and Consent Solicitation Related to Its 7.5% Senior
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MONTEREY, CA, Nov 12 (MARKET WIRE) --
Century Aluminum Company (the "Company") (NASDAQ: CENX) today announced
an extension of the exchange offer and consent solicitation relating to
its 7.5% Senior Notes due 2014, CUSIP No. 156431AH1 (the "2014 Notes"),
made pursuant to its Offering Circular and Consent Solicitation Statement
dated October 28, 2009 (the "Offering Circular and Consent Solicitation
Statement"), as amended by the Supplement thereto dated November 12, 2009.
The Company is extending the previously announced exchange offer and
consent solicitation as follows:
-- The deadline to tender 2014 Notes to receive the consent payment in
the consent solicitation is extended from 11:59 p.m., New York City time,
on November 10, 2009 to 11:59 p.m., New York City time, on November 18,
2009, unless further extended. Holders who have tendered or tender their
2014 Notes prior to such time, and have their 2014 Notes accepted by the
Company for exchange, will be entitled to the total consideration, as set
forth in the Offering Circular and Consent Solicitation Statement, for
tendering and consenting in the exchange offer and consent solicitation.
-- The Expiration Time of the exchange offer and consent solicitation is
extended from 11:59 p.m., New York City time, on November 25, 2009 to
11:59 p.m., New York City time, on December 3, 2009, unless further
extended.
The Company has commenced an offer to exchange $250 million in
aggregate principal amount outstanding 2014 Notes properly tendered (and
not validly withdrawn) for up to $250 million of its 8% Senior Secured
Notes due 2014 (the "Exchange Notes") to be issued at the closing of the
exchange offer. In conjunction with the exchange offer, the Company also
has commenced a solicitation of consents for amendments to the indenture
governing the 2014 Notes to eliminate most restrictive covenants and
modify certain events of default.
The Company has been advised by the information and exchange agent for the
exchange offer and consent solicitation that, as of 5:00 p.m., New York
City time, on November 10, 2009, the aggregate principal amount of 2014
Notes that had been validly tendered (and not validly withdrawn) and for
which related consents had been validly delivered (and not validly
revoked) was approximately $51 million.
This press release does not constitute an offer to exchange or a
solicitation of consents relating to the 2014 Notes or any other
securities of the Company. The exchange offer and consent solicitation is
being made pursuant to an exemption from the registration requirements of
the Securities Act of 1933, as amended (the "Securities Act") contained in
Section 3(a)(9) of the Securities Act. The Company has not filed and will
not file a registration statement under the Securities Act or any other
federal or state securities laws with respect to the offer of Exchange
Notes in the exchange offer and consent solicitation related to the 2014
Notes described above.
Century Aluminum Company owns primary aluminum capacity in the United
States and Iceland. Century's corporate offices are located in Monterey,
California.
Cautionary Statement
This press release may contain "forward-looking statements" within the
meaning of U.S. federal securities laws. The company has based its
forward-looking statements on current expectations and projections about
the future; however, these statements are subject to risks, uncertainties
and assumptions, any of which could cause the company's actual results to
differ materially from those expressed in its forward-looking statements.
More information about these risks, uncertainties and assumptions can be
found in the risk factors and forward-looking statements cautionary
language contained in the company's Annual Report on Form 10-K and in
other filings made with the Securities and Exchange Commission. The
company does not undertake, and specifically disclaims, any obligation to
revise any forward-looking statements to reflect the occurrence of
anticipated or unanticipated events or circumstances after the date such
forward-looking statements are made.
Certified Advisors for the First North market of the OMX Nordic Exchange
Iceland hf. for Global Depositary Receipts in Iceland:
Atli B. Gudmundsson, Senior Manager - Corporate Finance, NBI hf.
Steingrimur Helgason, Director - Corporate Finance, NBI hf.
Contacts:
Media
Mike Dildine
831-642-9364
Investors
Shelly Lair
831-642-9357
Copyright 2009, Market Wire, All rights reserved.
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