Watch List Stock News: Greif (GEF)

Greif (GEF) stock recently located move of -37.85% off 52-week high price and identified change of 22.64% away from 52-week low price. GEF stock has been recorded -9.41% away from 50 day moving average and -24.56% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.13% off 20-day moving average. It has market worth of $1977.69M and dividend yield of 4.51%.

Greif, Inc. (NYSE: GEF, GEF.B) reported the pricing of the previously announced private offering of $500 million aggregate principal amount of 6.50% senior notes due 2027 (the “Notes”). The Notes offering is expected to close on or about February 11, 2019, subject to customary closing conditions.  The offering of the Notes is part of the financing of the merger consideration for the previously announced acquisition (the “Caraustar Acquisition”) of Paperboard Parent, Inc., the parent company of Caraustar Industries, Inc. (collectively, “Caraustar”).

Greif intends to use the net proceeds from the offering of the Notes, together with borrowings under new senior secured credit facilities that it expects to enter into on the date the Caraustar Acquisition closes, to fund the merger consideration of the Caraustar Acquisition, redeem the $250.0 million aggregate principal amount of its 7.75% senior unsecured notes due August 1, 2019, repay outstanding borrowings under its existing senior secured credit facilities and pay related fees and expenses.

The Caraustar Acquisition has not been completed as of the date of this press release and is subject to customary closing conditions. The closing of the Notes offering is not conditioned upon the completion of the Caraustar Acquisition, but Greif will be required to redeem the Notes if the Caraustar Acquisition is not completed.

The Notes will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside the United States pursuant to Regulation S under the Securities Act. The Notes and the related guarantees will not be registered under the Securities Act, or the securities laws of any state or other jurisdiction, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

 The Financial sector company, Greif noticed change of -2.84% to $39 along volume of 243354 shares in recent session compared to an average volume of 216.63K. The stock observed return of -3.75% in 5 days trading activity. The stock was at 15.73% over one month performance. GEF’s shares are at -12.79% for the quarter and driving a -35.15% return over the course of the past year and is now at 5.09% since this point in 2018.   The average volatility for the week at 2.97% and for month was at 3.33%. There are 50.71M shares outstanding and 31.18M shares are floated in market. Right now the stock beta is 1.61.

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