Century Aluminum to exchange $21 million 1.75% convertibles for stock

By Jennifer Chiou

New York, Sept. 11 - Century Aluminum Co. agreed to issue about 1.9 million common shares in exchange for about $21 million of its 1.75% convertible senior notes due 2024, according to an 8-K filed Friday with the Securities and Exchange Commission.

On Aug. 27, the company said it agreed to issue roughly 2 million shares in exchange for about $26 million of the notes.

The transactions are expected to close in the fourth quarter.

The convertibles are putable on Aug. 1, 2011.

Century is a Monterey, Calif.-based producer of primary aluminum products.

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