Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 26

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 not available to satisfy the liabilities and obligations of the Company, Greif Packaging or other subsidiaries of the Company, and the liabilities of Greif Funding are not the liabilities or obligations of the Company or its other subsidiaries.Cooperage Receivables Finance B.V. and Greif Services Belgium BV, an indirect wholly owned subsidiary of Greif, Inc., are parties to an amended and restated Nieuw Amsterdam Receivables Financing Agreement (the “European RFA”) with affiliates of a major international bank. On April 1, 2025, the maturity date of the European RFA was extended to April 21, 2026. The European RFA provides an accounts receivable financing facility of up to €100.0 million ($114.2 million as of April 30, 2025) secured by certain European accounts receivable. As of April 30, 2025, $107.0 million ($84.2 million as of October 31, 2024) was outstanding under the European RFA. The weighted average interest rate for borrowings under the European RFA was 4.01% for the six months ended April 30, 2025.

NOTE 6 — FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Recurring Fair Value MeasurementsThe following table presents the fair value for those assets and (liabilities) measured on a recurring basis as of April 30, 2025 and October 31, 2024:April 30, 2025AssetsLiabilities(in millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalInterest rate derivatives$— $26.1 $— $26.1 $— $(12.7)$— $(12.7)Foreign exchange hedges— 0.7 — 0.7 — (1.4)— (1.4)Insurance annuity— — 20.0 20.0 — — — — Cross currency swap— 6.4 — 6.4 — (39.5)— (39.5)October 31, 2024AssetsLiabilities(in millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalInterest rate derivatives$— $40.4 $— $40.4 $— $(