secwatch.observer — SEC 8-K summary
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Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2023-04-14T23:59:59+00:00
Accession:  0000764065-23-000077
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Cleveland-Cliffs issues $750M 6.750% senior notes due 2030; proceeds to repay ABL facility
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- Issued $750M in 6.750% senior unsecured notes due April 15, 2030, in a private placement.
- Net proceeds used to repay a portion of borrowings under the existing asset-based revolving credit facility.
- Notes rank equally with unsecured senior debt; structurally subordinated to secured debt and non-guarantor subsidiary liabilities.
- Redeemable at make-whole prior to April 15, 2026; thereafter at 103.375% declining to par by 2028.
- Up to 35% of notes redeemable with equity offering proceeds at 106.75% before April 2026, subject to 65% remaining.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406523000077/0000764065-23-000077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406523000077/clf-20230414.htm
  HTML page:      https://secwatch.observer/filing/0000764065-23-000077

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