Cleveland-Cliffs Inc. announced today that it intends to offer an additional $200 million aggregate principal amount of senior unsecured guaranteed notes due 2034. The offering is subject to market and other conditions and is exempt from registration requirements under the Securities Act. The notes are senior unsecured and guaranteed by the company.
The new financing provides Cleveland-Cliffs with additional liquidity to support its ongoing operations and debt management. The notes’ due date of 2034 offers long‑term capital, potentially reducing refinancing risk. The offering’s exemption from registration may allow a quicker closing, enhancing the company’s financial flexibility.
This financing follows a recent upsizing of a $275 million notes offering, indicating a continued focus on strengthening the balance sheet. The proposed $200 million offering expands the company’s debt capacity, supporting its strategic initiatives and potential future investments. The announcement reflects Cleveland-Cliffs’ proactive approach to capital structure management.
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