Greif, Inc. Announces Proposed Offering of $500 Million of Senior Notes Due 2027
January 28, 2019 at 05:34 pm IST
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Greif, Inc. announced the commencement of a private offering of $500 million aggregate principal amount of senior notes due 2027, subject to market and other conditions. The offering of the Notes is part of the financing of the merger consideration for the previously announced acquisition of Paperboard Parent, Inc., the parent company of Caraustar Industries, Inc. Greif intends to use the net proceeds from the offering of the Notes, together with borrowings under new senior secured credit facilities that it expects to enter into on the date the Caraustar Acquisition closes, to fund the merger consideration of the Caraustar Acquisition, redeem the $250.0 million aggregate principal amount of its 7.75% senior unsecured notes due August 1, 2019, repay outstanding borrowings under its existing senior secured credit facilities and pay related fees and expenses.
Greif, Inc. is engaged in industrial packaging products and services. The Company principally manufactures rigid industrial packaging products, such as steel, fiber and plastic drums, rigid intermediate bulk containers, jerrycans and other small plastics, closure systems for industrial packaging products, transit protection products, water bottles and remanufactured and reconditioned industrial containers, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services. The Company produces and sells containerboard, corrugated sheets, corrugated containers and other corrugated products to customers in North America in industries, such as packaging, automotive, food and building products. The Company also produces and sells coated recycled paperboard and uncoated recycled paperboard, some of which are used to produce and sell industrial products (tubes and cores, construction products and protective packaging).
GREIF, INC. 
