Steel maker Cleveland-Cliffs intends to offer to sell $600 million in aggregate principal amount senior unsecured guaranteed notes due 2034.

The offering is exempt from the registration requirements of the Securities Act of 1933 and the notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries.

Cliffs said it plans to use the net proceeds from the notes, together with liquidity on hand, to redeem all of its outstanding 5.875% senior guaranteed notes due 2027, 7.00% senior guaranteed notes due 2027 and AK Steel 7.00% senior notes due 2027.