What is the coupon rate and yield to maturity of the convertible senior notes?

Answer

The press release does not disclose the specific coupon rate or the calculated yield‑to‑maturity (YTM) for the $650 million of Centrus Energy Corp.’s convertible senior notes due 2032. Those terms are typically set out in the detailed offering memorandum (or the “definitive agreement”) that accompanies a private placement, and they are not included in the brief summary you provided.

Trading implications

• Missing rate data means the notes are likely being priced on a conversion‑value basis rather than a traditional fixed‑coupon spread. Until the exact coupon (if any) and YTM are confirmed, market participants will focus on the conversion premium, the underlying equity‑price upside, and the credit profile of Centrus when assessing the relative attractiveness of the notes versus straight debt or equity.
• Actionable step: Obtain the full offering documents (e.g., the SEC filing or the private placement memorandum) to verify the coupon and YTM. Once those figures are known, you can benchmark the notes against comparable senior unsecured debt in the nuclear‑energy sector and decide whether the conversion features provide a sufficient discount to compensate for any credit‑risk spread. If the notes are zero‑coupon (a common structure for convertibles), the effective YTM will be driven entirely by the conversion price and the expected equity upside, which can create a “synthetic” yield that may still be attractive in a low‑rate environment.