Cleveland-Cliffs’ 1.5% convertibles due 2025 may be converted prior to redemption on Jan. 18

By Rebecca Melvin

Concord, N.H., Dec. 1 – Cleveland-Cliffs Inc. announced it is redeeming all of its remaining $294 million of 1.5% convertible senior notes due 2025 on Jan. 18, 2022.

Noteholders may convert their notes prior to the redemption date, according to a company news release.

Upon redemption or early conversion, the company intends to pay 100% of the outstanding principal amount in cash. The notes’ trustee is the Depository Trust Co.

The iron ore mining and flat-rolled steel company is based in Cleveland.

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