Trade Cases
Cliffs Closes $750M Notes Offering
April 14, 2023
Cleveland-Cliffs said Friday it has closed its previously announced offering of $750 million in unsecured guaranteed notes.
The Cleveland-based steelmaker made the announcement on April 11 for the notes due in 2030, which were priced at 6.75% annual coupon and issued at par.
The company said it intends to use the net proceeds from the notes to repay a portion of the borrowings under its existing asset-based revolving credit facility.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Trade Cases
Commerce finalizes sunset review of HR import duties
The Commerce Department determined that, if anti-dumping and countervailing duty orders were allowed to expire, or be ‘sunset,’ the illegal dumping and subsidization of HR imports would be likely to continue at sizeable rates.
Commerce delays initial CVD decision in coated case
At the request of domestic petitioners, the Commerce Department has postponed its deadline for making preliminary countervailing duty margin determinations in the coated steel trade case investigations.
Price on Trade: Expect Trump 2.0 to build upon Trump 1.0
After a frenzied election cycle, Donald Trump will return to the White House with an amplified trade agenda.
SMU Community Chat: Leibowitz talks trade, tariffs, and changing world order
Last week’s Community Chat with international trade attorney and regular SMU columnist Lewis Leibowitz was packed full of valuable perspectives on trade topics near and dear to the steel industry.
Domestic tubing industry cheers court decision on conduit misclassification
The domestic steel tube industry is applauding a federal appeals court decision upholding a ruling that confirms at least one importer misclassified steel conduit imported into the US.