Company: GEF
Filing Date: 2025-08-28
Form Type: 10-Q
Source: 0000043920-25-000048
Chunk: 67

Company: GREIF, INC
Filing Date: 2025-08-28
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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, 2025, we were in compliance with the covenants and other agreements in the 2023 Credit Agreement.

Short-Term Debt

Short-term debt is summarized as follows:

(in millions)July 31, 2025October 31, 2024Accounts receivable credit facilities386.6 — Other debt15.3 18.6 401.9 18.6 

Accounts Receivable Credit Facilities

We have a $290.0 million U.S. Receivables Financing Facility Agreement (the “U.S. RFA”) that matures on May 15, 2026. As of July 31, 2025, there was a $284.3 million ($273.7 million as of October 31, 2024) outstanding balance under the U.S. RFA. The U.S. RFA also contains events of default and covenants that are substantially the same as the covenants under the 2022 Credit Agreement. As of July 31, 2025, we were in compliance with these covenants. Proceeds of the U.S. RFA are available for working capital and general corporate purposes. On August 28, 2025, the U.S. RFA was amended to provide an accounts receivable financing facility of $200.0 million.

We have a €100.0 million ($115.5 million as of July 31, 2025) European Receivables Financing Agreement (the “European RFA”) that matures on April 21, 2026. As of July 31, 2025, $102.3 million ($84.2 million as of October 31, 2024) was 

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outstanding under the European RFA. As of July 31, 2025, we were in compliance with covenants contained in the European RFA. Proceeds of the European RFA are available for working capital and general corporate purposes.

See Note 5 to the interim condensed consolidated financial statements included in Item 1 of this Form 10-Q for additional disclosures regarding our financial obligations.

Financial Instruments

Interest Rate Derivatives

As of July 31, 2025, we had various interest rate swaps with a total notional amount of $1,362.5 million ($1,400.0 million as of October 31, 2024) amortizing down over the term, in which we receive variable interest rate