USEC, Now Centrus, Makes Debut on NYSE - DJ

USEC Inc., now known Centrus Energy Corp. (LEU), emerged from bankruptcy protection today and the reorganized uranium supplier issued 9M shares of new common stock on NYSE. LEU, which opened at $10 a share, closed up slightly at $10.21. Under the company's Chapter 11 plan, bondholders, owed $530M, received 79% of new stock plus $200M of new debt. Two preferred shareholders, Toshiba America Nuclear Energy Corp. and The Babcock & Wilcox Co., each received $20.19M new debt and about 8% of new common stock. Existing common shareholders received a 5% stake in the new company. Shares of USEC (USU) were cancelled.