Company: GEF
Filing Date: 2025-08-28
Form Type: 10-Q
Source: 0000043920-25-000048
Chunk: 27

Company: GREIF, INC
Filing Date: 2025-08-28
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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5. The deferred financing costs associated with the U.S. RFA totaled $0.1 million as of July 31, 2025 and are recorded as a reduction of short-term debt on the interim condensed consolidated balance sheets.On August 28, 2025, the U.S. RFA was amended to provide an accounts receivable financing facility of $200.0 million.Greif Funding is a direct subsidiary of Greif Packaging and is included in the Company’s consolidated financial statements. However, because Greif Funding is a separate and distinct legal entity from the Company, the assets of Greif Funding are 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 ($115.5 million as of July 31, 2025) secured by certain European accounts receivable. As of July 31, 2025, $102.3 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 3.73% for the nine months ended July 31, 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 July 31, 2025 and October 31, 2024:July 31, 2025AssetsLiabilities(in millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalInterest rate derivatives$— $29.4 $— $29.4 $— $(7.2)$— $(7.2)Foreign exchange hedges— 1.