On Friday August 16, 2024, Cleveland-Cliffs Issued An Additional $600M Aggregate Principal Amount Of 7.000% Senior Guaranteed Notes Due 2032
Portfolio Pulse from Benzinga Newsdesk
Cleveland-Cliffs Inc. issued an additional $600 million of 7.000% Senior Guaranteed Notes due 2032 in a private transaction. These notes are part of the company's existing notes and will mature on March 15, 2032.
August 19, 2024 | 3:26 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Cleveland-Cliffs Inc. has issued an additional $600 million in 7.000% Senior Guaranteed Notes due 2032, expanding their existing debt issuance. This move could impact the company's credit profile and interest obligations.
The issuance of additional notes increases Cleveland-Cliffs' debt, which could affect its credit profile and interest expenses. However, as the notes are part of an existing issuance, the impact on stock price may be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100