Replies to post #21798 on The Rising Influence of Rising Affluence

[jbog]

I don't think anyone should be surprised by this. I'm not sure what the financial implications are.

The timing of Cliffs recent moves couldn't be worse.

[DewDiligence]

CLF selling $400M of 5-year notes—pricing to be determined:

https://finance.yahoo.com/news/cleveland-cliffs-inc-announces-proposed-125100383.html

Cliffs intends to use the net proceeds from the Notes Offering for general corporate purposes, including to strengthen its balance sheet and increase liquidity, which may include repaying a portion of the borrowings outstanding under the ABL Facility.