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Cleveland-Cliffs completes $850 million Senior Unsecured Notes offering

February 2025

Client(s) Cleveland-Cliffs Inc.

Jones Day represented Cleveland-Cliffs Inc., the largest flat-rolled steel producer and manufacturer of iron ore pellets in North America, in connection with its Rule 144A and Regulation S offering of $850 million aggregate principal amount of 7.500% Senior Unsecured Guaranteed Notes due 2031.

The net proceeds from the Notes will be used for general corporate purposes, including the repayment of borrowings under its asset-based credit facility.

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