Cleveland-Cliffs amends $4.75B ABL credit facility to finance Stelco acquisition

CLEVELAND-CLIFFS INC.

Entered Sixth Amendment to $4.75B asset-based revolving credit agreement on September 13, 2024.
Amendment permits borrowing to finance a portion of the purchase price for Stelco Holdings Inc.
Post-acquisition, commitments split: $4.25B tranche for US borrowers, $500M for Canadian subsidiaries.
Modifies borrowing conditions specifically for the Stelco acquisition, then separates into two tranches.

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