- Cleveland-Cliffs (NYSE:CLF) said on Friday that it has successfully amended its $4.75B Asset-Based Lending [ABL] facility as part of the financing for the pending acquisition of Stelco Holdings.
- The company said it has completely replaced Goldman Sachs’ participation with increased commitments from Bank of America, Wells Fargo, J.P. Morgan, etc.
- As of the finalization of the amendment, Cliffs had no net borrowings on its ABL facility. The amended ABL matures in 2028.
