GleeGee,

My apologies. I should have used the term "issuing bonds" for greater clarity. CLF's is issuing $500 MM in 10 year notes and $500 MM in 30 year notes.

Sept 15 (Reuters) - Cliffs Natural Resources Inc (CLF.N)
on Wednesday sold $1 billion of senior unsecured notes in two
parts, said IFR, a Thomson Reuters service.

The size of the deal was increased from an originally
planned $750 million.

Bank of America Merrill Lynch and JP Morgan were the joint
bookrunning managers for the sale.

BORROWER: CLIFFS NATURAL RESOURCES INC

TRANCHE 1                                                
AMT $500 MLN      COUPON 4.80 PCT     MATURITY 10/1/2020 
TYPE SR NTS       ISS PRICE 99.793    FIRST PAY 4/1/2011 
MOODY'S Baa3      YIELD 4.826 PCT     SETTLEMENT 9/20/2010
S&P BBB-MINUS     SPREAD 210 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 35 BPS

TRANCHE 2                                                
AMT $500 MLN      COUPON 6.25 PCT     MATURITY 10/1/2040 
TYPE SR NTS       ISS PRICE 98.255    FIRST PAY 4/1/2011 
MOODY'S Baa3      YIELD 6.381 PCT     SETTLEMENT 9/20/2010
S&P BBB-MINUS     SPREAD 250 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 40 BPS