Cleveland-Cliffs shares are training higher after the company announced that it successfully amended its $4.75 billion Asset-Based Lending facility as part of the financing for the pending acquisition of Stelco Holdings Inc.
Portfolio Pulse from Benzinga Newsdesk
Cleveland-Cliffs shares are rising following the successful amendment of its $4.75 billion Asset-Based Lending facility, which is part of the financing for its pending acquisition of Stelco Holdings Inc.
September 13, 2024 | 6:53 pm
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Cleveland-Cliffs' stock is experiencing an upward trend due to the successful amendment of its $4.75 billion Asset-Based Lending facility, which is crucial for financing its acquisition of Stelco Holdings Inc.
The amendment of the lending facility is a positive development for Cleveland-Cliffs as it secures necessary financing for the acquisition of Stelco Holdings Inc. This strategic move is likely to be viewed favorably by investors, leading to a short-term increase in stock price.
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