Davis Polk & Wardwell LLP is advising Houlihan Lokey as financial adviser on a number of debt restructuring transactions undertaken by Century Aluminum Company. As part of these transactions:

• Century has agreed to issue approximately 11.4 million shares of common stock in exchange for approximately $128 million of its 1.75% convertible notes due 2024 in transactions under Section 3(a)(9) of the Securities Act.
• Century is offering up to $250 million of newly issued 8% senior secured notes due 2014 in exchange for $250 million of its 7.5% notes due 2014. The exchange offer is being made pursuant to Section 3(a)(9). In connection with the exchange offer, Century Aluminum will solicit consents to amend certain provisions of its indenture governing the 7.5% notes.
• Century has launched a consent solicitation to solicit consents to amend certain events of default in its indenture governing the 1.75% notes due 2024.

Century Aluminum Company owns primary aluminum capacity in the United States and Iceland. Century Aluminum's corporate offices are located in Monterey, California.

The Davis Polk corporate team included partner Michael Kaplan and associates Wendi Hoeben, Michael J. Moldowan and Shanelle van der Berg (not yet admitted). The credit team included associate Peter T. Bazos. Partner Po Sit and associate Ethan R. Goldman provided tax advice. The legal assistant on the team was Gwendolyn P. Ranada. All members of the Davis Polk team are based in the New York office.