Cleveland-cliffs completes offering of $750 million of senior unsecured guaranteed notes due 2030

Cleveland--(business wire)--cleveland-cliffs inc. (nyse: clf) announced today that it has closed its previously priced offering of $750 million aggregate principal amount of senior unsecured guaranteed notes due 2030 (the “notes”), which were priced at 6.75% annual coupon and issued at par. the company intends to use the net proceeds from the notes to repay a portion of the borrowings under its existing asset-based revolving credit facility.
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