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

Cleveland-Cliffs issues $275 million of add-on 7.625% notes due 2034 at 102.75%

Neutral Impact 3 of 5 financing Written later

Cleveland-Cliffs issued an additional $275 million of its 7.625% Senior Guaranteed Notes due 2034 in a private transaction on October 10, 2025, priced at 102.75% of principal. The company said it will use the net proceeds to repay borrowings under its asset-based credit facility, adding to the $850 million of notes issued earlier. The filing describes the terms of the debt but does not report any change to the company's financial results.

Key points

  • Additional notes: $275 million principal, issued at 102.75% of par, on October 10, 2025
  • Total 7.625% notes due January 15, 2034 now include $850 million initial notes plus the $275 million add-on
  • Proceeds to repay borrowings under the asset-based credit facility
  • Notes are unsecured senior obligations, guaranteed by material domestic subsidiaries; interest paid semi-annually from January 15, 2026

The filing

CompanyCleveland-Cliffs (CLF)
Form8-K, current report
Filed with the SECOct 10, 2025, 5:08 PM ET
Accession number0000764065-25-000144

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 October 10, 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.