On February 6, 2025, Cleveland-Cliffs Inc. completed its offering of US$850 million aggregate principal amount of Senior Guaranteed Notes due 2031. 

The Notes are guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry.

J.P. Morgan Securities LLC led the syndicate of initial purchasers.