Cleveland-Cliffs to sell additional $200M of 2034 notes

* Cleveland-Cliffs (NYSE:CLF [https://seekingalpha.com/symbol/CLF]) plans to sell an additional $200 million aggregate principal amount of senior unsecured guaranteed notes due 2034.
* The additional notes [https://seekingalpha.com/pr/20256934-cleveland-cliffs-inc-announces-proposed-offering-of-an-additional-200-million-of-senior] will be an issuance of Cliffs’ existing 7.625% senior unsecured guaranteed notes due 2034. Cliffs intends to use the net proceeds from the offering to repay borrowings under its asset-based credit facility.

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