Loan & DebtMay 14, 2026, 05:12 PM
Greif Replaces $275M Receivables Facility with New $200M PNC Facility
AI Summary
Greif, Inc.'s U.S. subsidiaries amended and restated their receivables financing facility on May 11, 2026. The new Fourth Amended and Restated Transfer and Administration Agreement provides for a $200 million Receivables Facility with PNC Bank, National Association. This facility replaces the previous $275 million facility with Bank of America, N.A., which was terminated without material penalty, with proceeds used for existing obligations and working capital.
Key Highlights
- Greif established a new $200 million Receivables Facility with PNC Bank, National Association.
- The new facility replaces the previous $275 million Receivables Facility with Bank of America, N.A.
- The commitment termination date for the new facility is May 11, 2027.
- Greif, Inc. guarantees the performance of its subsidiaries under the new agreement.
- No material early termination penalty was incurred with the termination of the old facility.
- Proceeds from the new facility were used to satisfy existing obligations and for working capital.
Price Impact
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