Greif, Inc Enters into Second Amended and Restated Senior Secured Credit Agreement with Syndicate of Financial Institutions

On March 1, 2022, Greif, Inc. and certain of its subsidiaries, as borrowers, entered into a second amended and restated senior secured credit agreement (the ?2022 Credit Agreement?) with a syndicate of financial institutions. The 2022 Credit Agreement provides for a $1,100.0 million secured term A-1 loan and a $515.0 million secured term A-2 loan (the ?Term Loans?), along with an $800.0 million secured revolving credit facility. On March 25, 2024, the Company, as borrower, entered into an Incremental Term A-4 Loan Agreement under the 2022 Credit Agreement (the ?Incremental Term A-4 Loan Agreement?) with a syndicate of financial institutions, as lenders, Wells Fargo Securities, LLC, as lead arranger, and JPMorgan Chase Bank, as administrative agent.

The Incremental A-4 Term Loan Agreement constitutes an amendment to the 2022 Credit Agreement. The Incremental Term A-4 Loan Agreement provides for a $300.0 million incremental term A-4 loan (the ?Incremental Term A-4 Loan?) made available in a single draw on March 25, 2024. Amounts repaid or prepaid in respect of the Incremental Term A-4 Loan may not be reborrowed.

The Incremental Term A-4 Loan mature s on March 1, 2027 and amortizes at 2.50% per annum in equal quarterly principal installments, with the remaining outstanding principal balance due on the maturity date. The Incremental Term A-4 Loan has, in all material respects, the identical terms and provisions as the Term Loans. The Company?s obligations with respect to the Incremental Term A-4 Loan will constitute obligations under the 2022 Credit Agreement and are secured and guaranteed with the other obligations under the 2022 Credit Agreement on a pari passu basis.

The Company used the proceeds from the Incremental Term A-4 Loan to repay funds drawn on the revolving credit facility under the 2022 Credit Agreement for the purchase of Ipackchem Group SAS (?Ipackchem?) on March 26, 2024. See Item 7.01 of this Current Report on Form 8-K for information concerning the completion of the Company?s acquisition of Ipackchem.