secwatch.observer — SEC 8-K summary
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Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0000764065-24-000171
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cleveland-Cliffs upsizes and prices $600M additional 7.000% Senior Notes due 2032 for Stelco acquisition
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- Initial $500M offering upsized to $600M aggregate principal; notes priced at 99.25% of par.
- Notes bear 7.000% annual interest, mature 2032; issued as additional series under March 2024 indenture.
- Net proceeds to finance cash consideration for Stelco Holdings acquisition, expected to close Q4 2024.
- Pro-forma liquidity after offering expected to be approximately $4.3 billion.
- Prior to Stelco close, proceeds will pay off entire ABL facility balance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406524000171/0000764065-24-000171-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406524000171/clf-20240813.htm
  HTML page:      https://secwatch.observer/filing/0000764065-24-000171

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