Greif, Inc. Files 8-K: Material Agreement & Financials

TL;DR

Greif signed a big deal and has new financial obligations. Details to follow.

AI Summary

On March 27, 2024, Greif, Inc. entered into a material definitive agreement related to a direct financial obligation. The company also issued a Regulation FD disclosure and filed financial statements and exhibits. Specific details regarding the agreement, obligation, or financial figures were not provided in the excerpt.

Why It Matters

This filing indicates Greif, Inc. has entered into a significant agreement and has financial obligations, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and financial obligations, which inherently carry some level of risk until more details are disclosed.

Key Players & Entities

• GREIF, INC. (company) — Registrant
• Delaware (company) — State of Incorporation

FAQ

Key Financial Figures

• $1,100.0 million — he 2022 Credit Agreement provides for a $1,100.0 million secured term A-1 loan and a $515.0 mill
• $515.0 million — 0.0 million secured term A-1 loan and a $515.0 million secured term A-2 loan (the "Term Loans"
• $800.0 million — loan (the "Term Loans"), along with an $800.0 million secured revolving credit facility. On
• $300.0 million — Term A-4 Loan Agreement provides for a $300.0 million incremental term A-4 loan (the "Increme

Filing Documents

• gef-20240327.htm (8-K) — 41KB
• gef2024tlax4ipackchemex101.htm (EX-10.1) — 222KB
• gef2024tlax4ipackchemex102.htm (EX-10.2) — 572KB
• gef2024tlax4ipackchemex103.htm (EX-10.3) — 50KB
• gef2024tlax4ipackchemex991.htm (EX-99.1) — 10KB
• gef-20240327_g1.jpg (GRAPHIC) — 40KB
• 0000043920-24-000018.txt ( ) — 1240KB
• gef-20240327.xsd (EX-101.SCH) — 2KB
• gef-20240327_def.xml (EX-101.DEF) — 15KB
• gef-20240327_lab.xml (EX-101.LAB) — 26KB
• gef-20240327_pre.xml (EX-101.PRE) — 16KB
• gef-20240327_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. (a) Amendment to 2022 Credit Agreement On March 1, 2022, Greif, Inc. (the "Company") and certain of its subsidiaries, as borrowers, entered into a second amended and restated senior secured credit agreement (the "2022 Credit Agreement") with a syndicate of financial institutions. The 2022 Credit Agreement provides for a $1,100.0 million secured term A-1 loan and a $515.0 million secured term A-2 loan (the "Term Loans"), along with an $800.0 million secured revolving credit facility. On March 25, 2024, the Company, as borrower, entered into an Incremental Term A-4 Loan Agreement under the 2022 Credit Agreement (the "Incremental Term A-4 Loan Agreement") with a syndicate of financial institutions, as lenders, Wells Fargo Securities, LLC, as lead arranger, and JPMorgan Chase Bank, as administrative agent. The Incremental A-4 Term Loan Agreement constitutes an amendment to the 2022 Credit Agreement. The Incremental Term A-4 Loan Agreement provides for a $300.0 million incremental term A-4 loan (the "Incremental Term A-4 Loan") made available in a single draw on March 25, 2024. Amounts repaid or prepaid in respect of the Incremental Term A-4 Loan may not be reborrowed. The Incremental Term A-4 Loan mature s on March 1, 2027 and amortizes at 2.50% per annum in equal quarterly principal installments, with the remaining outstanding principal balance due on the maturity date. The Incremental Term A-4 Loan has, in all material respects, the identical terms and provisions as the Term Loans. The Company's obligations with respect to the Incremental Term A-4 Loan will constitute obligations under the 2022 Credit Agreement and are secured and guaranteed with the other obligations under the 2022 Credit Agreement on a pari passu basis. The Company used the proceeds from the Incremental Term A-4 Loan to repay funds drawn on the revolving credit facility under the 2022 Credit Agreement for the purchase of Ipackchem Group

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On March 26, 2024, the Company issued a press release announcing that it had completed its acquisition of Ipackchem. The full text of the press relea se is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Section 9 – Financial Statements and Exhibits

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (a) Exhibits. Exhibit No. Description 10.1 Incremental Term Loan Agreement, dated as of March 25, 2024, as an amendment to the Amended and Restated Credit Agreement, dated as of March 1, 2022, among Greif, Inc., as borrower, and certain other Greif US subsidiaries, as guarantors, a syndicate of lenders, as lenders, Wells Fargo Securities, LLC, as Lead Arranger, and JPMorgan Chase Bank, as Administrative Agent. 10.2 Sale and Purchase Agreement dated as of November 17, 2023, among the sellers listed in Schedule 1 thereto, SK Impact Group S. r.l., Ipack, Ipack II, Fuluolin II, Ipackchem Group SAS, Greif International Holding B.V., and Greif Packaging LLC. 10.3 Amendment No.1 dated as of March 26, 2024 to the Sale and Purchase Agreement dated as of November 17, 2023, among the sellers listed in Schedule 1 thereto, SK Impact Group S. r.l., Ipack, Ipack II, Fuluolin II, Ipackchem Group SAS, Greif France Holding SAS, and Greif Packaging LLC. 99.1 Press release issued by Greif, Inc. on March 26, 2024, regarding its acquisition of Ipackchem Group SAS.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GREIF, INC. Date: March 27, 2024 By /s/ Gary R. Martz Gary R. Martz, Executive Vice President

View Full Filing

View this 8-K filing on SEC EDGAR