Cleveland-Cliffs Inc .)宣布2025年到期的额外优先担保票据的发行和定价，以回购折价交易的票据

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  • 净收益将用于偿还约7.36亿美元的优先票据
  • 通过贴现抵扣，债务总额减少了约1.81亿美元

皇冠体育——（皇冠体育官网商业资讯）——CLEVELAND- Cliffs Inc.（纽约证券交易所代码：CLF）（“Cliffs”）今天宣布，该公司已发行并定价了总额为5.552亿美元的2025年到期的优先担保票据（“附加票据”），发行价格为其本金的99%，不受《1933年证券法》（“证券法”）的注册要求的约束。附加票据将是cliff现有的2025年到期的9.875%优先担保票据的发行，并将作为截至2020年4月17日的契约（补充称“契约”）下的附加票据发行，根据该契约，cliff先前发行了总额为4亿美元的2025年到期的9.875%优先担保票据（“初始票据”）。除发行日期和发行价格不同外，附加票据将与初始票据具有相同的类别和系列，并在其他方面完全相同。

Cliffs将利用此次增发票据的净收益回购其未偿优先票据的总本金约7.364亿美元，这将减少约1.813亿美元的债务。

Cliffs董事长、总裁兼首席执行官Lourenco Goncalves表示：“我们所处的独特背景使我们能够再次利用过去有效使用的策略，通过消除某些以折扣价交易的债务来创造价值。通过这样做，通过这次及时的交易，我们将减少1.81亿美元的债务。”贡萨尔维斯补充说，“我们将一如既往地继续评估，并可能执行新的负债管理交易，以改善我们的资产负债表。”

附加票据将由Cliffs的重要全资国内子公司（除某些例外情况和允许的留置权外）在优先担保的基础上进行担保，并由(i)对cliff的几乎所有资产和担保人的资产（应收账款和其他付款权、库存、提取抵押品、投资财产、某些一般无形资产和商业侵权索赔、某些移动设备除外）的优先留置权进行担保。上述各项的商品账户、存款账户、证券账户和其他相关资产、收益和产品（统称为“ABL抵押品”）)，以及（ii） ABL抵押品的第二优先留置权，这是cliff的高级担保资产信贷工具（“ABL工具”）下贷方的优先留置权。

根据惯例成交条件，此次增发票据预计将于2020年4月24日完成。

本新闻稿不构成出售或征求购买任何证券的要约。附加票据和相关担保仅提供给根据《证券法》第144A条规定的注册豁免的合格机构买家，以及皇冠体育官网以外的非皇冠体育官网机构买家。依赖《证券法》第S条规定的注册豁免的人。附加票据和相关担保未根据《证券法》或任何州或其他司法管辖区的证券法进行注册，未经《证券法》和适用的州证券法或蓝天法和外国证券法的注册或适用豁免，不得在皇冠体育官网提供或出售。

关于Cleveland-Cliffs

皇冠体育-克利夫斯成立于1847年，是北美最大的垂直整合的差异化铁矿石和钢铁生产商之一。通过强调非商品化产品，Cliffs具有独特的定位，可以为注重质量的客户群提供定制的铁矿石球团和复杂的钢铁解决方案，在汽车行业拥有行业领先的市场份额。对环境可持续性的承诺是我们业务运营的核心，并延伸到我们如何与社区和钢铁价值链上的利益相关者合作。皇冠体育-克利夫斯总部位于俄亥俄州皇冠体育，在皇冠体育官网、加拿大和墨西哥的采矿和钢铁制造业务中拥有约12,000名员工。

前瞻性陈述

This communication contains certain forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this communication, words such as “anticipate,” “assume,” “believe,” “build,” “continue,” “create,” “design,” “estimate,” “expect,” “focus,” “forecast,” “future,” “goal,” “guidance,” “imply,” “intend,” “look,” “objective,” “opportunity,” “outlook,” “plan,” “position,” “potential,” “predict,” “project,” “prospective,” “pursue,” “seek,” “strategy,” “target,” “work,” “could,” “may,” “should,” “will,” “would” or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements with respect to our business, strategy and plans, expectations relating to the merger (the “Merger”) between Cliffs and AK Steel Holding Corporation (“AK Steel”) and future financial condition and performance. We caution investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements. Among the risks and uncertainties that could cause actual results to differ from those described in forward-looking statements are the following: the severe financial hardship, bankruptcy, temporary or permanent shut downs or operational challenges, due to the ongoing novel strain of coronavirus (“COVID-19”) pandemic or otherwise, of one or more of our major customers, including customers in the automotive market, key suppliers or contractors, which among other adverse effects, could lead to reduced demand for our products, increased difficulty collecting receivables and customers and/or suppliers/contractors asserting force majeure or other reasons for not performing their contractual obligations to us; the uncertainty and weaknesses in global economic conditions, including downward pressure on prices caused by the ongoing COVID-19 pandemic, oversupply of imported products, reduced market demand and risks related to U.S. government actions with respect to Section 232 of the Trade Expansion Act (as amended by the Trade Act of 1974), the United States-Mexico-Canada Agreement and/or other trade agreements, treaties or policies; the uncertainties associated with the highly competitive and highly cyclical steel industry and reliance on the demand for steel from the automotive industry; the continued volatility of iron ore and steel prices and other trends, which may impact the price adjustment calculations under certain of our sales contracts; our ability to cost-effectively achieve planned production rates or levels, including at our hot briquetted iron (“HBI”) plant once we re-start construction activities, and to resume full operations, at our facilities that are temporarily idled due to the COVID-19 pandemic; our ability to successfully identify and consummate any strategic investments or development projects, including our HBI plant; the impact of our steel-making furnace customers reducing their steel production due to the COVID-19 pandemic or increased market share of steel produced using other methods or lighter-weight steel alternatives, including aluminum; our ability to maintain adequate liquidity, our level of indebtedness and the availability of capital could limit cash flow available to fund working capital, planned capital expenditures, acquisitions and other general corporate purposes or ongoing needs of our business; our actual economic iron ore reserves or reductions in current mineral estimates, including whether any mineralized material qualifies as a reserve; the outcome of any contractual disputes with our customers, joint venture partners or significant energy, material or service providers or any other litigation or arbitration; problems or uncertainties with sales volume or mix, productivity, transportation, environmental liabilities, employee benefit costs and other risks of the steel and mining industries; impacts of existing and increasing governmental regulation and related costs and liabilities, including failure to receive or maintain required operating and environmental permits, approvals, modifications or other authorization of, or from, any governmental or regulatory entity and costs related to implementing improvements to ensure compliance with regulatory changes; our ability to maintain appropriate relations with unions and employees; the ability of our customers, joint venture partners and third party service providers to meet their obligations to us on a timely basis or at all; the events or circumstances that could impair or adversely impact the viability of a production plant or mine and the carrying value of associated assets, as well as any resulting impairment charges; the uncertainties associated with natural disasters, weather conditions, unanticipated geological conditions, supply or price of energy, equipment failures and other unexpected events; the unpredictability and severity of catastrophic events, including acts of terrorism or outbreak of war or hostilities, as well as management’s responses to any of the aforementioned factors; adverse changes in interest rates and tax laws; the potential existence of significant deficiencies or material weakness in our internal control over financial reporting; our ability to realize the anticipated benefits of the Merger and to successfully integrate the businesses of AK Steel into our existing businesses, including uncertainties associated with maintaining relationships with customers, vendors and employees, as well as realizing the estimated future synergies; the possibility that the Merger may be less accretive than expected, and may be dilutive, to our earnings per share, whether as a result of adverse changes in market conditions, volatility in the commodity prices for iron ore and/or steel, adverse regulatory developments or otherwise; additional debt we assumed or issued in connection with the Merger may negatively impact our credit profile and limit our financial flexibility; changes in the cost of raw materials and supplies; supply chain disruptions or poor quality of raw materials or supplies, including scrap, coal, coke and alloys; disruptions in, or failures of, our information technology systems, including those related to cybersecurity; unanticipated costs associated with healthcare, pension and other postretirement benefits obligations; and other risks described under the caption “Risk Factors” in Cliffs’ and AK Steel’s Annual Reports on Form 10-K for the year ended December 31, 2019 and other periodic reports filed with the Securities and Exchange Commission.

除非另有明确说明，否则前瞻性陈述是基于Cliffs管理团队基于当前可用信息的期望和信念。前瞻性陈述受到固有风险和不确定性的影响，并基于假设和估计，这些假设和估计本质上受Cliffs的运营和商业环境的影响，包括经济、竞争、监管和运营风险，其中许多超出了Cliffs的控制范围，难以预测，并且可能是错误的。上述列举的因素不应被认为是详尽无遗的。不保证前瞻性陈述的行动、事件或结果将会发生，或者，如果发生的话，不保证它们将在何时发生，也不保证它们将对Cliffs的运营结果、财务状况或现金流产生什么影响。鉴于这些不确定性，峭壁警告投资者不应过分依赖任何前瞻性陈述。此外，任何前瞻性陈述仅在其发表之日发表，除非法律要求，皇冠体育斯不承担更新或修改任何前瞻性陈述以反映其发表之日之后的事件或情况，或反映预期或未预期事件或情况的发生的义务。

皇冠体育-克利夫斯投资者关系：Paul Finan董事，投资者关系（216）694-6544媒体：Patricia Persico董事，企业传播（216）650-0168

资料来源：Cleveland-Cliffs Inc。

2020年4月21日上映