Greif to price $250 million 10-year senior notes on Thursday

By Paul A. Harris

St. Louis, July 22 - Greif, Inc. will host an investor conference call at 11 a.m. ET on Thursday for its $250 million offering of 10-year senior notes (expected ratings Ba2/BB+), according to an informed source.

The deal is expected to price later that same day.

Banc of America Securities/Merrill Lynch, Deutsche Bank Securities and JP Morgan are joint bookrunners for the Rule 144A with registration rights offering. Keybanc Capital Markets is the senior co-manager. US Bancorp, RBS Securities Inc., Huntington, PNC and Fifth Third are co-managers.

The notes are non-callable but have a make-whole provision at Treasuries plus 50 basis points. They come with a change-of-control put at 101.

Proceeds will be used for general corporate purposes including repayment of the company's revolver.

Greif is a Delaware, Ohio-based producer of industrial packaging products.

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