Cleveland-Cliffs Inc.
Cleveland-Cliffs Inc. Issues $850 Million Senior Guaranteed Notes
Summary
On September 8, 2025, Cleveland-Cliffs Inc. issued $850 million aggregate principal amount of 7.625% Senior Guaranteed Notes due 2034. The Notes bear interest at an annual rate of 7.625% and are payable semi-annually. They rank equally with all existing and future unsecured senior indebtedness and are guaranteed by the Company's material direct and indirect wholly-owned domestic subsidiaries. The proceeds will be used to redeem existing debt and repay borrowings under the asset-based credit facility.
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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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