Century Aluminum borrows $90 million total under two credit agreements

By Wendy Van Sickle

Columbus, Ohio, March 24 – Century Aluminum Co. drew down a total of $90 million under two credit agreements on March 19, according to an 8-K filed with the Securities and Exchange Commission.

The company drew down $45 million under each of its loan and security agreement dated May 16, 2018, with Wells Fargo Capital Finance, LLC as agent and its revolving credit facility dated Nov. 27, 2013 with wholly owned subsidiary Nordural Grundartangi ehf as borrower and Landsbankinn hf as agent.

The borrowings were taken to increase the company’s cash position and preserve financial flexibility in light of the Covid-19 outbreak.

Based in Monterey, Calif., Century Aluminum owns primary aluminum capacity in the United States and Iceland.

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