Greif, Inc. Announces Completion of Subordinated Note Tender Offer and Issuance of New Senior Notes
February 09 2007 - 1:51PM
PR Newswire (US)
DELAWARE, Ohio, Feb. 9 /PRNewswire-FirstCall/ -- Greif, Inc.
(Greif) (NYSE:GEFNYSE:GEF.B) the global leader in industrial
packaging, today announced that it had completed its tender offer
for any and all of its outstanding 87/8 percent Senior Subordinated
Notes due 2012. In the tender offer, which expired on Feb. 8, 2007,
subordinated notes in the aggregate principal amount of
$245,610,000, representing 99 percent of the outstanding
subordinated notes, were tendered to and purchased by the company.
The company also announced that it has issued $300,000,000
aggregate principal amount of its 63/4 percent Senior Notes due
2017. The new senior notes, which closed Feb. 9, were issued in a
Rule 144A and Regulation S offering. The net proceeds from the
issuance of the new senior notes were used to fund the purchase of
the subordinated notes in the tender offer. The remaining proceeds
will be used for general corporate purposes. This announcement is
neither an offer to sell nor a solicitation of an offer to buy the
notes described herein. The Company offered the notes in reliance
upon an exemption from registration under the Securities Act of
1933 for an offer and sale of notes that does not involve a public
offering. The securities offered have not been registered under the
Securities Act of 1933 or any state securities laws and may not be
offered or sold in the United States absent registration or an
applicable exemption from registration requirements. 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 45 countries to serve
global as well as regional customers. Additional information is on
the Company's website at http://www.greif.com/. DATASOURCE: Greif,
Inc. CONTACT: Media, Deb Strohmaier, APR, Director, Communications,
+1-740-549-6074, or , or Analyst, Robert Lentz, +1 614-876-2000,
both of Greif, Inc. Web site: http://www.greif.com/
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