Greif to pay down revolving multi-currency loan via notes proceeds

By Jennifer Chiou

New York, July 22 - Greif, Inc. announced that it plans to use the proceeds from an up to $250 million offer of senior notes due 2019 to repay its revolving multi-currency credit facility.

Remaining proceeds will go toward general corporate purposes.

The company noted that the revolver paydown will not result in any permanent reduction of the commitments.

Greif is a Delaware, Ohio-based packaging products and services company.

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