secwatch.observer — SEC 8-K summary
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Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0000764065-24-000072
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406524000072/0000764065-24-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406524000072/clf-20240318.htm
  HTML page:      https://secwatch.observer/filing/0000764065-24-000072

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