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08.10.2025 04:33:13

Cleveland-Cliffs Upsizes Debt Offering With $275 Mln In Senior Unsecured Notes Due 2034

(RTTNews) - Cleveland-Cliffs Inc. (CLF) announced that it has upsized and priced an additional $275 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034.

The Additional Notes will be issued at a price of 102.750% of their principal amount, an implied yield of 6.992%. The Additional Notes will be guaranteed on a senior unsecured basis by Cliffs' material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries. The Additional Notes Offering is expected to close on October 10, 2025.

Cliffs intends to use the net proceeds from the Additional Notes Offering to repay borrowings under its asset-based lending facility.

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