Cleveland-Cliffs Inc.
Cleveland-Cliffs Inc. Announces $850M Note Offering and Redemption of 2027 Notes
Summary
On September 3, 2025, Cleveland-Cliffs Inc. announced the launch of an $850 million private offering of Senior Guaranteed Notes due 2034, with an interest rate of 7.625%. Simultaneously, the company issued notices to redeem its outstanding 5.875% and 7.000% Senior Guaranteed Notes due 2027, along with a notice for Cleveland-Cliffs Steel Corporation's 7.000% Senior Notes due 2027, all set for redemption on October 3, 2025. The proceeds from the note offering will be used to redeem the existing notes.
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About Cleveland-Cliffs Inc.
Cleveland-Cliffs Inc. is a leading integrated producer of flat-rolled steel products in North America. The company operates through a robust supply chain that spans a wide range of steel manufacturing processes, including mining, pelletizing, and direct reduced iron production. As a major supplier of steel to various industries, Cleveland-Cliffs serves critical sectors such as automotive, construction, and manufacturing, providing essential materials used in the production of vehicles, appliances, and infrastructure projects. Founded in 1847, Cleveland-Cliffs has evolved from a small iron mining operation into a comprehensive steel powerhouse, reflecting its importance to the U.S. economy and robust industrial base. The firm's strategic acquisitions and production capabilities enhance its position in the market, allowing it to reduce reliance on third-party suppliers and maintain greater control over the quality of its steel products. Cleveland-Cliffs stands out in the financial market due to its significant impact on raw material supply chains and its role in supporting industrial growth and development across North America.
Official SEC Documents
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