Cleveland-Cliffs Inc.’s High‑Yield Senior Guaranteed Notes Offering

Cravath represented the initial purchasers in connection with the $850 million 144A/Reg. S high‑yield senior guaranteed notes offering of Cleveland‑Cliffs Inc., a leading North America‑based steel producer. The transaction closed on February 6, 2025.

The Cravath team included partners William V. Fogg and Douglas Dolan and associates Nicholas B. Singer and Steven T. Marzagalli on capital markets matters; associate Eduardo D. Jacobo on tax matters; senior attorney Annmarie M. Terraciano and associate Star S. Gulant on environmental matters; and associate Oscar Porter on executive compensation and benefits matters. Liza Park also worked on capital markets matters.