Grief Closes on Amended $1B Senior Secured Credit Facilities

Greif, Inc. (NYSE: GEF) and twosubsidiaries amended and restated the company's existing $1.0 billion seniorsecured credit facilities with a syndicate of financial institutions on Dec.19, 2012. The amended credit facilities provide the company with an $800million revolving multicurrency credit facility and a $200 million term loan,both expiring in December 2017, with an option to add $250 million to thefacilities with the agreement of the lenders. The new facilities, whichinclude lower pricing and improved covenants, amend the existing $1.0 billionsenior secured credit facilities scheduled to expire in October 2015.The revolving credit facility is available to fund ongoing working capitalneeds and general corporate purposes, and to finance permitted acquisitions.