The 2.25% convertible senior notes are due 2030

Davis Polk advised the representatives of the several initial purchasers, in connection with a Rule 144A offering by Centrus Energy Corp. of $402.5 million aggregate principal amount of its 2.25% convertible senior notes due 2030, which included $52.5 million principal amount of convertible senior notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes.

Based in Maryland, Centrus is a supplier of nuclear fuel components for the nuclear power industry. Centrus supplies various components of nuclear fuel to commercial customers from its global network of suppliers and provides advanced engineering, design, manufacturing and services to government and private sector customers. It is deploying uranium enrichment through HALEU production and other capabilities necessary for production of advanced nuclear fuel to power existing and next-generation reactors around the world.

The Davis Polk capital markets team included partner Derek Dostal and associate Kanger Jin. The equity derivatives team included partner Mark M. Mendez and associate Danielle Forni. Partner Lucy W. Farr and associates Tyler Scheiner and Michael Hsieh provided tax advice. Counsel David A. Zilberberg provided environmental advice. Counsel Will Schisa provided sanctions advice. All members of the Davis Polk team are based in the New York and Washington DC offices.

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