Cliffs Natural to redeem 7¾% second-lien notes, 8% 1.5-lien notes

New York, Feb. 21 – Cliffs Natural Resources Inc. announced that it will redeem its $430,115,000 of 7¾% second-lien senior secured notes due 2020 on March 15 and its $218,545,000 of 8% 1.5-lien senior secured notes due 2020 on March 17.

The 7¾% notes will be repaid at 104.21% of par plus accrued interest while the 8% notes will be redeemed at 107.7% of par plus accrued interest, according to notices from the issuer.

Cliffs is a Cleveland-based mining and natural resources company.

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