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AI brief of an SEC Form 8-K · Cleveland-Cliffs (CLF)

Cleveland-Cliffs issues $850 million of 7.500% senior notes due 2031

Neutral Impact 3 of 5 financing Written later

Cleveland-Cliffs issued $850 million of 7.500% senior guaranteed notes maturing September 15, 2031, in a private transaction, under an indenture dated February 6, 2025. The company intends to use the net proceeds for general corporate purposes, including repaying borrowings under its asset-based credit facility, which adds long-term debt while refinancing shorter-term borrowings.

Key points

  • Principal amount: $850 million; interest rate 7.500%, paid semi-annually on March 15 and September 15, starting September 15, 2025
  • Notes mature September 15, 2031; issued February 6, 2025 to U.S. Bank Trust Company, National Association, as trustee
  • Company may redeem before March 15, 2028 at par plus a make-whole premium, and from March 15, 2028 at an initial 103.750% price
  • Net proceeds intended for general corporate purposes, including repayment of asset-based credit facility borrowings

The filing

CompanyCleveland-Cliffs (CLF)
Form8-K, current report
Filed with the SECFeb 6, 2025, 4:48 PM ET
Accession number0000764065-25-000035

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:59 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 06, 2025.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.