Greif, Inc.’s $500 Million High-Yield Senior Notes Offering


Cravath represented the initial purchasers, led by Wells Fargo Securities, Goldman Sachs & Co. LLC, J.P. Morgan Securities and Bank of America Merrill Lynch, in connection with the $500 million 144A/Reg. S high-yield senior notes offering of Greif, Inc., a leading global producer of industrial packaging.

Proceeds of the offering were used to finance the acquisition of Caraustar Industries, Inc. Cravath also represented the lead arrangers in connection with the arrangement of committed debt financing that backstopped the acquisition. The transaction closed on February 11, 2019.

The Cravath team included partners William V. Fogg (Picture) and Michael E. Mariani and associates Claudia J. Ricciardi, Ellen H. Park and Peter Y. Shin on securities matters; partner Matthew Morreale on environmental matters; and associate Andrew T. Davis on tax matters. Dixing Tang also worked on executive compensation and benefits matters.

Involved fees earner: Andrew Davis – Cravath Swaine & Moore; William Fogg – Cravath Swaine & Moore; Michael Mariani – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Ellen Park – Cravath Swaine & Moore; Claudia Ricciardi – Cravath Swaine & Moore; Peter Shin – Cravath Swaine & Moore; Dixing Tang – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Bank of America Merrill Lynch; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Wells Fargo Securities;

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Author: Ambrogio Visconti