Century Aluminum Icelandic subsidiary gets $365 million term loan

By Sara Rosenberg

New York, Feb. 14 - Century Aluminum Co.'s wholly owned Iceland-based subsidiary Nordural ehf got a new $365 million senior term loan, according to a company news release.

Kaupthing Bank hf and Landsbanki Islands hf acted as lead arrangers for the deal.

Proceeds are being used to refinance Nordural's existing term loan facility and to partially finance costs associated with the company's ongoing expansion efforts.

"Nordural is a world-class aluminum operation, and this expansion, which will more than double the plant's capacity, is a major strategic accomplishment for the company," chairman and chief executive officer Craig A. Davis said in the release.

Century aluminum is a Monterey, Calif., aluminum company.

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