DEBT OFFERING
US iron-ore producer Cleveland-Cliffs has launched two debt offerings totalling $716-million to help fund its first hot briquetted iron (HBI) production plant – a $700-million expansion to Cliffs’ production capabilities targeting the electric arc furnace steel market. Based in Cleveland, Ohio, Cleveland-Cliffs intends to offer a $400-million principal amount of senior secured notes due 2024 in an offering exempt from the registration requirements of the US Securities Act of 1933.
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