UNDATED – Cleveland Cliffs, Inc. has entered into a $500 dollar unsecured credit agreement with 16 financial institutions. The syndicate is led by Fifth Third Bank and Bank of America Corporation. The new credit agreement replaces an existing $350 unsecured revolving credit facility scheduled to expire in March of next year.
Cleveland Cliffs is the largest producer of iron ore pellets in North America. It operates six iron ore mines in Michigan, Minnesota, and Eastern Canada.