Cleveland Cliffs Inc (CLF)

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CLF has tender offer for 5.75% Senior Guaranteed Notes Due 2025, Announces Proposed Offering of $750,000,000 Senior Unsecured Guaranteed Notes due 2027 (no rate released yet) to pay for the 2025 notes and redeem all of its outstanding 4.875% Senior Notes due 2021. The tender offer has a weird term:

http://www.clevelandcliffs.com/English/news-center/news-releases/news-releases-details/2019/Cleveland-Cliffs-Inc-Announces-Tender-Offer-for-Its-575-Senior-Guaranteed-Notes-Due-2025/default.aspx

The following table sets forth certain terms of the Tender Offer:

5.75% Senior Guaranteed 2025

CUSIP Number U18618 AD7

Principal Amount Outstanding $1,073,280,000

Tender Offer Consideration(1) $950.00

Early Tender Premium $50.00

According to FINRA, last bond price listed for 4/17 is $97.75 - so what's with the offer price of $950 and "premium" of $50? They're just redeeming them at par, they're not paying interest due if held to call date. Something is odd here, especially the redemption price - stupid TDA can't even find the damn bonds to confirm FINRA pricing.