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

Cleveland-Cliffs issues $850 million of 7.625% senior notes due 2034

Neutral Impact 3 of 5 financing Written later

Cleveland-Cliffs issued $850 million of 7.625% senior guaranteed notes maturing January 15, 2034, in a private transaction. The company plans to use the proceeds to redeem $685 million of existing notes due 2027 and to repay borrowings under its asset-based credit facility, which refinances debt and extends maturities.

Key points

  • Notes: $850 million aggregate principal, 7.625% annual interest, payable semi-annually from January 15, 2026, maturing January 15, 2034
  • Proceeds to redeem $685 million of 2027 notes (5.875% and 7.000% guaranteed notes and AK Steel 7.000% notes) and repay asset-based credit facility borrowings
  • Covenants limit certain liens, sale and leaseback deals, mergers and asset sales; holders can require repurchase at 101% upon a change of control triggering event

The filing

CompanyCleveland-Cliffs (CLF)
Form8-K, current report
Filed with the SECSep 8, 2025, 5:17 PM ET
Accession number0000764065-25-000128

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

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:58 AM ET, from this filing 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 September 08, 2025.

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