---
schema_version: "secwatch.filing_event.v1"
accession: "0000764065-24-000072"
form_type: "8-K"
ticker: "CLF"
cik: "0000764065"
company_name: "CLEVELAND-CLIFFS INC."
filed_at: "2024-03-18T23:59:59+00:00"
generated_at: "2026-06-04T16:18:46.567507+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Cleveland-Cliffs issues $825M of 7.000% senior notes due 2032 to refinance 2026 secured notes

## Summary
- $825M aggregate principal of 7.000% senior unsecured notes issued March 18, 2024, maturing March 15, 2032.
- Net proceeds plus cash used to repurchase or redeem all outstanding 6.750% Senior Secured Notes due 2026.
- Interest payable semi-annually in arrears on March 15 and September 15, starting September 15, 2024.
- Notes are guaranteed by material domestic subsidiaries; contain customary covenants and change-of-control put at 101%.
- Redeemable at make-whole prior to March 15, 2027; thereafter at 103.5% declining to par by March 15, 2029.

## SEC filing metadata
- accession: 0000764065-24-000072
- form_type: 8-K
- ticker: CLF
- cik: 0000764065
- company_name: CLEVELAND-CLIFFS INC.
- filed_at: 2024-03-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764065/000076406524000072/0000764065-24-000072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764065/000076406524000072/clf-20240318.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000764065-24-000072
- JSON: https://secwatch.observer/filing/0000764065-24-000072.json
- Plain text: https://secwatch.observer/filing/0000764065-24-000072.txt

## Key facts
- Debt Financings
  CLEVELAND-CLIFFS INC. incurred senior notes of $825,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 7.000% maturing March 15, 2032.
  - Instrument: senior notes
  - Principal: $825,000,000 aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 7.000%
  - Maturity: March 15, 2032
  - Event: incurrence
  source text: On March 18, 2024, Cleveland-Cliffs Inc. (the “Company”) issued $825,000,000 aggregate principal amount of 7.000% senior unsecured guaranteed notes due 2032 (the “Notes”) in a private transaction exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/764065/000076406524000072/0000764065-24-000072-index.htm
- Material Agreements
  CLEVELAND-CLIFFS INC. entered into Indenture with U.S. Bank Trust Company, National Association valued at $825,000,000 aggregate principal amount of 7.000% senior unsecured guaranteed notes due 2032 (effective 2024-03-18).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $825,000,000 aggregate principal amount of 7.000% senior unsecured guaranteed notes due 2032
  - Effective: 2024-03-18
  source text: On March 18, 2024, Cleveland-Cliffs Inc. (the “Company”) issued $825,000,000 aggregate principal amount of 7.000% senior unsecured guaranteed notes due 2032 (the “Notes”) in a private transaction exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/764065/000076406524000072/0000764065-24-000072-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.