Cliffs Natural to pay down revolving credit facility via note proceeds

By Tali Rackner

Norfolk, Va., March 19 – Cliffs Natural Resources Inc. plans to repay all amounts outstanding under its existing revolving credit facility with the proceeds from a $500 million senior secured notes sale, according to a press release.

Proceeds will also be used for general corporate purposes.

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

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