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DEBT | 6 Months Ended
--- | ---
Mar. 31, 2026
Debt Disclosure [Abstract] |
DEBT | DEBT Long-Term Debt Long-term debt is summarized as follows:
(in millions) | March 31, 2026 |  | September 30, 2025
2026 Credit Agreement - Term Loans | $ | 500.0 |  |  | $ | — |
2023 Credit Agreement - Term Loans | — |  |  | 135.3 |
2022 Credit Agreement - Term Loans | — |  |  | 784.1 |
2026 Credit Agreement - Revolving Credit Facility | 217.5 |  |  | — |
| 717.5 |  |  | 919.4 |
Less: current portion | 12.5 |  |  | — |
Less: deferred financing costs | 3.8 |  |  | 4.6 |
Long-term debt, net | $ | 701.2 |  |  | $ | 914.8 |
2026 Credit Agreements On February 27, 2026, the Company and certain of its subsidiaries entered into a third amended and restated senior secured credit agreement with a syndicate of financial institutions and an amended and restated senior secured credit agreement with CoBank, ACB and other farm credit lending institutions (collectively, the “2026 Credit Agreements”). The 2026 Credit Agreements amended, restated and replaced in their entirety the Company's previous credit agreements (collectively, the “2022 and 2023 Credit Agreements”). The Company used the borrowings under the 2026 Credit Agreements to repay and refinance all of the outstanding borrowings under the 2022 and 2023 Credit Agreements, and in the future will use the borrowings thereunder to fund ongoing working capital and capital expenditure needs and for general corporate purposes, including acquisitions, and to pay related fees and expenses. The 2026 Credit Agreements provide for (a) an $800.0 million secured revolving credit facility, consisting of a $725.0 million multicurrency facility and a $75.0 million U.S. dollar facility, maturing on February 27, 2031, (b) a $100.0 million secured term loan A-1 facility with quarterly principal installments that commence on June 30, 2026 and continue through December 31, 2030, with any outstanding principal balance of such term loan A-1 facility being due and payable on maturity on February 27, 2031, and (c) a $400.0 million secured term loan A-2 facility with quarterly principal installments that commence on June 30, 2026 and continue through January 31, 2031, with any outstanding principal balance of such term loan A-2 being due and payable on maturity on February 27, 2031. Subject to the terms of the 2026 Credit Agreements, the Company has an option to borrow additional funds under the 2026 Credit Agreements with the agreement of the lenders. Interest accruing under the 2026 Credit Agreements is based on the Secured Overnight Financing Rate (“SOFR”), Euro Interbank Offered Rate (“EURIBOR”) or a base rate that resets periodically plus, in each case, a calculated margin amount that is based on the Company’s leverage ratio. As of March 31, 2026, $717.5 million was outstanding under the 2026 Credit Agreements, of which the current portion was $12.5 million and the long-term portion was $705.0 million. The weighted average interest rate for borrowings under the 2026 Credit Agreements was 4.84% for the six months ended March 31, 2026. The actual interest rate for borrowings under the 2026 Credit Agreements was 4.93% as of March 31, 2026. The deferred financing costs associated with the term loan portion of the 2026 Credit Agreements totaled $3.8 million as of March 31, 2026 and are recorded as a reduction of long-term debt on the interim condensed consolidated balance sheets. The deferred financing costs associated with the revolving portion of the 2026 Credit Agreements totaled $2.6 million as of March 31, 2026 and are recorded within other long-term assets on the interim condensed consolidated balance sheets. Short-Term Debt Short-term debt is summarized as follows:
(in millions) | March 31, 2026 |  | September 30, 2025
U.S. accounts receivable credit facilities | 181.4 |  |  | 179.7 |
European accounts receivable credit facilities | 97.8 |  |  | 95.3 |
Other debt | 13.0 |  |  | 12.7 |
| 292.2 |  |  | 287.7 |
Accounts Receivable Credit Facilities Greif Receivables Funding LLC (“Greif Funding”), Greif Packaging, and certain other U.S. subsidiaries of the Company are parties to an amended and restated U.S. Receivables Financing Facility Agreement (the “U.S. RFA”) with a maturity date of May 15, 2026. The U.S. RFA provides an accounts receivable financing facility of $200.0 million. As of March 31, 2026, there was a $181.4 million ($179.7 million as of September 30, 2025) outstanding under the U.S. RFA. The weighted average interest rate for borrowings under the U.S. RFA was 4.87% for the six months ended March 31, 2026. 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 March 27, 2026, the maturity date of the European RFA was extended to April 20, 2027, which is effective on April 21, 2026. The European RFA provides an accounts receivable financing facility of up to €100.0 million ($115.1 million as of March 31, 2026) secured by certain European accounts receivable. As of March 31, 2026, $97.8 million ($95.3 million as of September 30, 2025) was outstanding under the European RFA. The weighted average interest rate for borrowings under the European RFA was 2.97% for the six months ended March 31, 2026.

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