Cleveland-Cliffs Inc. announced today that it has priced $400 million aggregate principal amount of Senior Secured Notes due 2025 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Notes will bear interest at an annual rate of 9.875% and will be issued at a price of 94.500% of their principal [...]
Cleveland-Cliffs Inc. today announced that it intends to offer to sell, subject to market and other conditions, $400 million aggregate principal amount of Senior Secured Notes due 2025 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Notes will be guaranteed on a senior secured basis by Cliffs [...]
Cleveland-Cliffs Inc. today provided the following company update. Cliffs’ Chairman, President, and Chief Executive Officer Lourenco Goncalves said, “The constantly evolving COVID-19 situation has been an ongoing backdrop for the actions we have taken to keep our employees and our Company healthy for the long term. With these goals in mind, we have [...]
Cleveland-Cliffs Inc. announced today that based on current market conditions, the Company will be temporarily idling production at two of its iron ore mining operations, Northshore Mining in Minnesota and Tilden Mine in Michigan. Cleveland-Cliffs stated that it will work down current inventory levels from these two operations and will continue to [...]
Cleveland-Cliffs Inc. today announced a change in the format of its 2020 Annual Meeting of Shareholders from in-person to virtual-only. Due to the emerging public health impact of the coronavirus pandemic and to support the health and well-being of the Company?s shareholders, employees and their families, the Company will hold the Annual Meeting in [...]
Cleveland-Cliffs Inc. stated today that it commends Governor Dewine and his administration for their strong leadership and decisive action to implement the ‘stay at home or place of residence’ order for the preservation of public health across the State of Ohio in response to COVID-19. Lourenco Goncalves, Chairman, President and Chief [...]
Cleveland-Cliffs Inc. announced today, following guidelines from the office of the Governor of Ohio regarding COVID-19 virus concerns, the Company is temporarily shutting down construction activities at its hot-briquetted iron project site in Toledo, Ohio. Effective March 20th, all construction activity at the site will cease by the end of the [...]
Cleveland-Cliffs Inc. reported today that its employees represented by the International Association of Machinists and Aerospace Workers Local 1943 have ratified a three-year labor agreement at the Company’s AK Steel facility in Middletown, Ohio. The contract was ratified in voting held on March 18, 2020. The new agreement covers [...]
Cleveland-Cliffs Inc. and AK Steel Holding Corporation today announced the final results of the previously announced offers to exchange by Cliffs any and all outstanding 6.375% Senior Notes due 2025 and 7.00% Senior Notes due 2027 issued by AK Steel Corporation , a wholly owned subsidiary of AK Holding, as set forth in the table below for the same [...]
Cleveland-Cliffs Inc. and AK Steel Holding Corporation today announced that, in connection with the previously announced tender offers by Cliffs and consent solicitations by AK Steel Corporation, a wholly owned subsidiary of AK Steel, the requisite consents have been received to adopt the proposed amendments to the indentures governing the 7.625 [...]
Cleveland-Cliffs Inc. and AK Steel Holding Corporation jointly announced that, at their respective special shareholder/stockholder meetings held earlier today, the shareholders of Cliffs and the stockholders of AK Steel voted to approve all of the proposals necessary to complete the previously announced acquisition of AK Steel by Cliffs. Under the [...]
Cleveland-Cliffs Inc. announced today that it has priced $725 million aggregate principal amount of Senior Secured Notes due 2026 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Notes will bear interest at an annual rate of 6.75 percent and will be issued at a price of 98.783 percent of their [...]
