Replies to post #8213 on Cleveland Cliffs Inc (CLF)

[DewDiligence]

CLF prices $750M 7-yr notes @6.75%:

https://www.clevelandcliffs.com/investors/news-events/press-releases/detail/585/cleveland-cliffs-announces-pricing-of-750-million-of

The Company intends to use the net proceeds from the Notes to repay a portion of the borrowings under the Company’s existing asset-based revolving credit facility. The transaction is leverage neutral and interest expense neutral, and extends the Company’s debt maturity profile. Following the transaction, the Company will maintain over $2 billion in pre-payable or callable debt that it expects to continue to reduce with its free cash flow generation.