CLIFFS NATURAL COMPLETES REDEMPTION OF $649M OF SENIOR NOTES
Posted on
March 15, 2017
Cliffs Natural Resources redeemed in full all of its outstanding 8.00% 1.5 lien senior secured notes due ’20 and 7.75% second lien senior secured notes due ’20.
Redemptions cut annualized interest expense by more than $50m
Eliminates two series of secured debt