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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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.