Cleveland-Cliffs sell an additional $120 million in 6.75% notes due 2026 [MarketWatch]
Cleveland-Cliffs Inc. (CLF)
Last cleveland-cliffs inc. earnings: 2/20 07:00 am
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clevelandcliffs.com/investors/overview/default.aspx
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Source: MarketWatch
Iron ore producer Cleveland-Cliffs Inc. said Tuesday it plans to sell an additional $120 million in senior secured notes due 2026. The company said it expects to use the proceeds from the additional notes to finance the construction of its hot briquetted iron production plant. The notes will be an issuance of the exiting 6.75% notes due 2026. In comparison, 5-year Treasury notes are yielding about 0.36% and 7-year Treasurys are yielding about 0.57%. Cleveland-Cliffs's credit is rated by S&P Global Ratings at B-, which is six-notches deep into speculative grade, or "junk" territory. The stock rose 7.2% in morning trading. It has soared 65.1% over the past three months, while the S&P 500 has advanced 31.8%.
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CLF
News
- Cleveland-Cliffs Inc. (NYSE: CLF) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
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- Seeking Clues to Cleveland-Cliffs (CLF) Q1 Earnings? A Peek Into Wall Street Projections for Key Metrics [Yahoo! Finance]Yahoo! Finance
- Biden takes action against China's unfair practices to protect US steel and shipbuilding industries [FOX Business Network]FOX Business Network
CLF
Earnings
- 1/29/24 - Beat
CLF
Sec Filings
- 4/5/24 - Form 8-K
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- CLF's page on the SEC website