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SUBSEQUENT EVENTS
3 Months Ended
Jan. 31, 2019
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
On December 20, 2018, two of the Company's subsidiaries entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with the parent of Caraustar providing for the acquisition of Caraustar for a purchase price of $1.8 billion in cash, subject to the purchase price adjustment as set forth in the Merger Agreement.
On February 11, 2019, the Company completed the Caraustar Acquisition. Caraustar is a leader in the production of uncoated recycled paperboard and coated recycled paperboard, with a variety of applications that include tubes and cores and a diverse mix of specialty products. Caraustar has over 80 operating facilities throughout the United States and Canada.
Concurrently with the completion of the Caraustar Acquisition, and in order to fund the payment of the purchase price for the Caraustar Acquisition, among other things, the following changes were made to the Company's capital structure: (i) the Company issued new $500.0 million aggregate principal amount of 6.50% Senior Notes due 2027, and (ii) the Company entered into an amended and restated senior secured credit agreement, which amended, restated and replaced the 2017 Credit Agreement, consisting of a $600.0 million secured revolving multicurrency facility, a $200.0 million secured revolving U.S. dollar facility, a $1,275.0 million secured term loan A-1 facility with quarterly principal installments commencing on April 30, 2019 and maturing January 31, 2024, and a $400.0 million secured term loan A-2 facility with quarterly principal installments commencing on April 30, 2019 and maturing January 31, 2026. In addition, the Company intends to redeem its $250.0 million Senior Notes due August 1, 2019.
Due to the limited time since the Company has completed the acquisition, the Company has not yet completed the initial acquisition accounting for the transaction, including the determination of the fair values of the assets acquired and the liabilities assumed. The Company will complete the preliminary purchase price allocation in the second quarter, which will be reflected in the Company's April 30, 2019 financial statements. The results of operations of the acquired business will be included in the Company's results from February 11, 2019, the date of the closing of the acquisition.