Cleveland-Cliffs obtains $1.5 billion incremental increase to existing credit facility with Bank of America, N.A.

Client(s) Cleveland-Cliffs Inc.

Jones Day represented Cleveland-Cliffs Inc., one of the largest vertically integrated producers of differentiated iron ore and steel in North America, in connection with a $1.5 billion incremental increase to its existing asset-based revolving credit facility with Bank of America, N.A., as administrative agent, bringing the total size of the facility to $3.5 billion. The incremental increase was entered into in connection with the acquisition of substantially all of the operations of ArcelorMittal USA.