Cleveland-Cliffs (CLF) Prices Upsized $600M Convertible Notes Offering

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Go back to Cleveland-Cliffs (CLF) Prices Upsized $600M Convertible Notes Offering

Cleveland-Cliffs Inc. Announces Upsizing and Pricing of an Additional $600 Million Senior Guaranteed Notes due 2032

August 13, 2024 4:11 PM EDT

CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) (Cliffs) announced today that it has upsized and priced an additional $600 million aggregate principal amount of Senior Guaranteed Notes due 2032 (the Additional Notes) in an offering (the Additional Notes Offering) that is exempt from the registration requirements of the Securities Act of 1933 (the Securities Act). The Additional Notes will bear interest at an annual rate of 7.000% and will be issued at a price of 99.25% of their principal amount. The Additional Notes will be guaranteed on a senior unsecured basis by Cliffs material direct and indirect wholly-owned domestic subsidiaries, other... More