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Stock Market & Financial Investment News

News Breaks
December 19, 2012
16:57 EDTGEFGreif amends credit facilities reducing our borrowing costs
Greif, and two subsidiaries amended and restated the company's existing $1B senior secured credit facilities with a syndicate of financial institutions on Dec. 19 . The amended credit facilities provide the company with an $800M revolving multicurrency credit facility and $200M term loan, both expiring in December 2017, with an option to add $250M to the facilities with the agreement of the lenders. The new facilities, which include lower pricing and improved covenants, amend the existing $1B senior secured credit facilities scheduled to expire in October 2015.
News For GEF From The Last 14 Days
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July 30, 2015
15:47 EDTGEFGreif temporarily ceases production at Massillon, Ohio facility
On July 27, at Greif Inc.’s paper mill facility in Massillon, Ohio, a portion of the roof collapsed during a torrential rain event, causing the facility to temporarily cease production. The collapsed roof was not directly above the facility’s main production equipment and the Company has not identified any damage to such equipment; however, repairs to the building, utilities and ancillary systems are required to restore operations. The Company does not anticipate any significant supply disruptions and is implementing plans to meet customers’ needs. Further, the Company does not currently expect this event to have a material adverse impact on its third quarter or annual financial results.The Company is working with its contractors and its insurance company to fully assess the damage and develop plans to effect repairs and resume production. The Company anticipates that the facility will be partially operational in the near future with full production operations resuming shortly thereafter.

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