Global Finance News
13 Oct 2025, 19:47
Cleveland-Cliffs Issues $275 Million in Additional Senior Notes Due 2034
Cleveland-Cliffs Inc. (NYSE: CLF) announced the issuance of an additional $275 million in 7.625% Senior Guaranteed Notes due 2034. The new notes, sold at 102.75% of par, are part of the same series as the company’s existing $850 million notes issued in September 2025, bringing the total outstanding to $1.125 billion.
Interest on the notes will be paid semi-annually, starting January 15, 2026, with maturity set for January 15, 2034. The company may redeem the notes before 2029 with a make-whole premium, and at lower redemption prices thereafter. Cleveland-Cliffs said proceeds will be used to repay borrowings under its asset-based credit facility.
Cleveland-Cliffs Inc. (NYSE: CLF) announced the issuance of an additional $275 million in 7.625% Senior Guaranteed Notes due 2034. The new notes, sold at 102.75% of par, are part of the same series as the company’s existing $850 million notes issued in September 2025, bringing the total outstanding to $1.125 billion.
Interest on the notes will be paid semi-annually, starting January 15, 2026, with maturity set for January 15, 2034. The company may redeem the notes before 2029 with a make-whole premium, and at lower redemption prices thereafter. Cleveland-Cliffs said proceeds will be used to repay borrowings under its asset-based credit facility.
