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DewDiligence

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DewDiligence

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Re: DewDiligence post# 14183

Thursday, 02/09/2017 6:20:56 PM

Thursday, February 09, 2017 6:20:56 PM

Post# of 29421
CLF’s preliminary prospectus on possible 57.5M* share offering and $250M bond tender:

https://www.sec.gov/Archives/edgar/data/764065/000076406517000025/prospectus424b5document.htm

Even though net debt has been reduced to a manageable $1.8B (~2.1x 2017 estimated EBITDA [#msg-128564271]) and the earliest bond maturity is in 2020, now is a good time to do further cleanup of the balance sheet, IMO. The stock will probably sell off some tomorrow, but that's no big deal.

*Assuming exercise of underwriter's option.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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