Shares of Cleveland-Cliffs Continue to Rise on Its Debt Deal [The Motley Fool]
Cleveland-Cliffs Inc. (CLF)
Last cleveland-cliffs inc. earnings: 2/20 07:00 am
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US:NYSE Investor Relations:
clevelandcliffs.com/investors/overview/default.aspx
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Source: The Motley Fool
What happenedShares of iron ore producerCleveland-Cliffs(NYSE:CLFSo whatWith so much news coming at us daily, some things can slip under the radar. Chances are this debt deal from Cleveland-Cliffs was one of them. On Tuesday, the company announced that it had issued $. million in senior secured notes under a previous debt issuance. These new notes will come at an interest rate of 9.87% and will be due in 0.That sounds like a pretty hefty price to pay. A 9.87% interest rate and having to put up assets as collateral for secured notes make it sound like Cleveland-Cliffs' credit looks shaky.An iron ore mine. Image source: Getty Images.The reason this ended up looking good in the eyes of Wall Street is that the company is using the proceeds to repurchase approximately $76. million in outstanding debt. The notes Cleveland-Cliffs is buying are currently selling for well less than par value, so it will be able to reduce its outstanding debt balance by $8 million.Now whatWhen CEO Lourenco Gonc
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CLF
News
- Cleveland-Cliffs Stock Sees RS Rating Firms Up [Yahoo! Finance]Yahoo! Finance
- Cleveland-Cliffs (CLF): Evaluating Valuation After Recent 18% Pullback in Share Price [Yahoo! Finance]Yahoo! Finance
- Why Is Cleveland-Cliffs (CLF) Down 16.4% Since Last Earnings Report? [Yahoo! Finance]Yahoo! Finance
- SunCoke Energy, Inc. Announces Haverhill Cokemaking Agreement [Yahoo! Finance]Yahoo! Finance
- What's Behind Cleveland-Cliffs Stock 25% Drop? [Forbes]Forbes
CLF
Earnings
- 10/20/25 - Beat
CLF
Sec Filings
- 11/14/25 - Form 4
- 11/14/25 - Form 3
- 11/12/25 - Form 8-K
- CLF's page on the SEC website