GREIF, INC. (NYSE:GEF) Files An 8-K Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off- Balance Sheet Arrangement.
(A) Repayment of a Direct Financial Obligation
Redemption of 7.75% Senior Notes
On April 1, 2019 (the “Redemption Date”), Greif, Inc. (the “Company”) redeemed all of its outstanding 7.75% Senior Notes due August 1, 2019 (the “Senior Notes”). The total redemption price for the Senior Notes was $253,904,142.46, which was equal to the aggregate principal amount outstanding of $250,000,000 plus a premium of $3,904,142.46. Accrued interest of $3,229,166.67 on the Senior Notes was also paid.The payment of the redemption price was funded by borrowings under the Company’s senior secured credit agreement.
Section8 – Other Events
Item 8.01.Other Events.
The Company previously notified the holders of the Senior Notes on March 1, 2019 that it had elected to redeem the Senior Notes on the Redemption Date.
About GREIF, INC. (NYSE:GEF)
Greif, Inc. is a producer of industrial packaging products and services. The Company operates through four business segments: Rigid Industrial Packaging & Services; Paper Packaging; Flexible Products & Services, and Land Management. In the Rigid Industrial Packaging & Services segment, the Company produces rigid industrial packaging products, including steel, fire and plastic drums, rigid intermediate bulk containers and closure systems, and offers services, such as container life cycle management, blending, filling, logistics, warehousing and other packaging services. In the Paper Packaging segment, the Company sells containerboard, corrugated sheets, corrugated containers and other corrugated products. In the Flexible Products & Services segment, the Company produces flexible intermediate bulk containers and offers related services. In the Land Management segment, the Company is focused on the harvesting and regeneration of the United States timber properties.
