Cleveland-Cliffs Inc. Secures $850 Million in Private Financing with 7.625% Senior Guaranteed Notes Due 2034

Reuters
Sep 09
Cleveland-Cliffs Inc. Secures $850 Million in Private Financing with 7.625% Senior Guaranteed Notes Due 2034

Cleveland-Cliffs Inc. has entered into a new financing agreement involving the issuance of $850 million in 7.625% Senior Guaranteed Notes due 2034. This private transaction, exempt from registration under the Securities Act of 1933, was executed on September 8, 2025. The notes were issued under an indenture agreement with U.S. Bank Trust Company, National Association as the trustee. The proceeds from this issuance are intended to redeem existing senior notes due 2027 and repay borrowings under the company's asset-based credit facility. This move strengthens Cleveland-Cliffs' financial position by addressing its outstanding obligations and optimizing its debt structure.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cleveland-Cliffs Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000764065-25-000128), on September 08, 2025, and is solely responsible for the information contained therein.

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