secwatch.observer — SEC 8-K summary
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Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2024-10-22T23:59:59+00:00
Accession:  0000764065-24-000196
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Cleveland-Cliffs issues $1.8B in 6.875%/7.375% senior notes to fund Stelco acquisition
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- Issued $900M 6.875% Senior Notes due 2029 and $900M 7.375% Senior Notes due 2033.
- Net proceeds to partially finance cash consideration for Stelco acquisition, expected Q4 2024.
- Special mandatory redemption at par if Stelco deal not closed by April 14, 2025 (extendable to July 14, 2025).
- Notes are unsecured senior obligations, guaranteed by material domestic subsidiaries.
- Change-of-control reprice at 101% plus accrued interest; make-whole and equity clawback redemption options.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406524000196/0000764065-24-000196-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406524000196/clf-20241022.htm
  HTML page:      https://secwatch.observer/filing/0000764065-24-000196

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer