Greif, Inc. Announces Proposed Offering
January 22 2007 - 6:23AM
PR Newswire (US)
DELAWARE, Ohio, Jan. 22 /PRNewswire-FirstCall/ -- Greif, Inc.
(Greif) (NYSE:GEFNYSE:GEF.B) the global leader in industrial
packaging, today announced that it intends to offer up to $300
million of senior notes due 2017. The net proceeds from this
offering will be used to fund the purchase of Greif's 8-7/8 percent
Senior Subordinated Notes due 2012 and for general corporate
purposes. As announced on Jan. 11, 2007, Greif commenced an offer
to purchase and consent solicitation for any and all of its
outstanding 8-7/8 percent Senior Subordinated Notes due 2012. If
the tender offer is not consummated, Greif will not issue the new
senior notes. The new senior notes will be offered to qualified
institutional buyers under Rule 144A. The new senior notes will not
be registered under the Securities Act of 1933, as amended (the
Securities Act), and unless so registered, may not be offered or
sold in the United States except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of
the Securities Act and applicable state securities laws. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the new senior
notes in any state in which such offer, solicitation, or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state. This news release contains
forward-looking statements within the meaning of the federal
securities laws relating to Greif's plans to offer senior notes.
These statements are based upon the current expectations and
beliefs of Greif's management and are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Important
factors that could cause actual results to differ materially from
the expectations expressed or implied in the forward-looking
statements include known and unknown risks. These risks and
uncertainties include market conditions and other factors beyond
Greif's control and the risk factors and other cautionary
statements discussed in Greif's filings with the Securities and
Exchange Commission. About Greif Greif is the world leader in
industrial packaging products and services. The Company produces
steel, plastic, fibre, corrugated and multiwall containers,
protective packaging and containerboard, and provides blending and
packaging services for a wide range of industries. Greif also
manages timber properties in North America. The Company is
strategically positioned in more than 40 countries to serve global
as well as regional customers. Additional information is on the
Company's website at http://www.greif.com/. DATASOURCE: Greif
CONTACT: Media, Deb Strohmaier, APR, Director, Communications,
+1-740-549-6074, or ; Analysts, Robert Lentz, +1-614-876-2000 Web
site: http://www.greif.com/
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