Cleveland-Cliffs to repay revolver borrowings via new notes

By Marisa Wong

Los Angeles, April 11 – Cleveland-Cliffs Inc. said it intends to repay a portion of the borrowings under its existing asset-based revolving credit facility using proceeds from an offering of new notes.

The company announced a $750 million offering of senior guaranteed notes due 2030 in a Tuesday press release.

The flat-rolled steel producer is based in Cleveland.

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