March 1, 2018 / 12:26 PM / 8 months ago

BRIEF-Cleveland-Cliffs Amends And Improves Its ABL Facility

March 1 (Reuters) - Cleveland-Cliffs Inc:

* CLEVELAND-CLIFFS AMENDS AND IMPROVES ITS ABL FACILITY

* CLEVELAND-CLIFFS INC - ‍AMENDED SENIOR SECURED ASSET-BASED LENDING CREDIT FACILITY​

* CLEVELAND-CLIFFS INC - ‍IN AMENDED ABL FACILITY OVERALL SIZE OF CREDIT FACILITY WAS REDUCED FROM $550 MILLION TO $450 MILLION​

* CLEVELAND-CLIFFS INC - ‍BORROWING COSTS AND UNUSED COMMITMENT FEES WERE ALSO REDUCED IN AMENDED ABL FACILITY​

* CLEVELAND-CLIFFS INC - ‍AMENDED ABL FACILITY WITH EXTENDED MATURITY DATE OF FEB. 28, 2023 OR 60 DAYS PRIOR TO MATURITY OF OTHER EXISTING SENIOR NOTES​ Source text for Eikon: Further company coverage: (Reuters.Brief@thomsonreuters.com)

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