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04.09.25 - 03:30
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Nippon Steel Drops Civil Lawsuit Related to U.S. Steel Buyout (Nippon)
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New York, Sept. 3 (Jiji Press)--Japan's Nippon Steel Corp. said Wednesday it has dropped a civil lawsuit filed in the United States relating to its acquisition of United States Steel Corp. In January, Nippon Steel sued major U.S. steelmaker Cleveland-Cliffs Inc., its CEO Lourenco Goncalves and David McCall, president of the United Steelworkers, or USW, union for their alleged illegal acts to......
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03.09.25 - 21:24
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Cleveland-Cliffs Announces Upsizing and Pricing of $850 Million of Senior Unsecured Notes due 2034 (Business Wire)
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CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that it has upsized and priced $850 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034 (the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Notes will bear interest at an annual rate of 7.625% and will be issued at par. The Notes will be guaranteed on a senior unsecured basis by Cliffs' material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries. The Notes offering is expected to close on September 8, 2025, subject to the satisfaction of customary closing conditions.
Cliffs intends to use the net proceeds from the Notes to redeem all of its outstanding 5.875% Senior Guaranteed Notes due 2027, 7.00% Senior Guaranteed Notes due 2027 and AK Steel 7.00% Senior Notes due 2027 (collectively, the “2027 Notes”) and repay borrowings under its asset-base...
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03.09.25 - 13:36
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Cleveland-Cliffs Inc. Announces Proposed Offering of $600 Million of Senior Unsecured Guaranteed Notes (Business Wire)
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CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that it intends to offer to sell, subject to market and other conditions, $600 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034 (the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Notes will be guaranteed on a senior unsecured basis by Cliffs' material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.
Cliffs intends to use the net proceeds from the Notes, together with liquidity on hand, to redeem all of its outstanding 5.875% Senior Guaranteed Notes due 2027, 7.00% Senior Guaranteed Notes due 2027 and AK Steel 7.00% Senior Notes due 2027 (collectively, the “2027 Notes”).
This news release does not constitute a notice of redemption with respect to any series of 2027 Notes or an offer to sell or the solicitation of an offer to buy any secur...
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