LONG-TERM DEBT

Long-term debt is summarized as follows (Dollars in millions):



	July 31, 2016			October 31, 2015
Amended Credit Agreement	$	205.7		$	217.4
Senior Notes due 2017	300.3			300.7
Senior Notes due 2019	246.7			246.0
Senior Notes due 2021	219.8			219.4
Amended Receivables Facility	75.0			147.6
Other debt	11.4			15.8
	1,058.9			1,146.9
Less current portion	(300.3		)	(30.7		)
Long-term debt	$	758.6		$	1,116.2

Amended Credit Agreement

On December 19, 2012, the Company and two of its international subsidiaries amended and restated the Company’s existing $1.0 billion senior secured credit agreement with a syndicate of financial institutions (the “Amended Credit Agreement”). The total available borrowing under this facility was $705.1 million as of July 31, 2016, which has been reduced by $14.4 million for outstanding letters of credit, all of which is available without violating covenants.

The Amended Credit Agreement contains financial covenants that require the Company to maintain a certain leverage ratio and an interest coverage ratio. The leverage ratio generally requires that at the end of any fiscal quarter the Company will not permit the ratio of (a) the Company’s total consolidated indebtedness, to (b) the Company’s consolidated net income plus depreciation, depletion and amortization, interest expense (including capitalized interest), and income taxes, and minus certain extraordinary gains and non-recurring gains (or plus certain extraordinary losses and non-recurring losses) and plus or minus certain other items for the preceding twelve months (“adjusted EBITDA”) to be greater than 4.00 to 1. The interest coverage ratio generally requires that at the end of any fiscal quarter the Company will not permit the ratio of (a) the Company’s consolidated adjusted EBITDA to (b) the Company’s consolidated interest expense to the extent paid or payable, to be less than 3.00 to 1, during the preceding twelve month period (the “Interest Coverage Ratio Covenant”).

As of July 31, 2016, $205.7 million was outstanding under the Amended Credit Agreement. The Amended Credit Agreement was entirely classified as long term. The weighted average interest rate on the Amended Credit Agreement was 1.91% for the nine months ended July 31, 2016. The actual interest rate on the Amended Credit Agreement was 1.28% as of July 31, 2016.

Senior Notes due 2017

On February 9, 2007, the Company issued $300.0 million of 6.75% Senior Notes due February 1, 2017. Interest on these Senior Notes is payable semi-annually. These Senior Notes are classified as current portion of long-term debt on the condensed consolidated balance sheet as of July 31, 2016. The Company intends to refinance these Senior Notes prior to their stated maturity date.

Senior Notes due 2019

On July 28, 2009, the Company issued $250.0 million of 7.75% Senior Notes due August 1, 2019. Interest on these Senior Notes is payable semi-annually.

Senior Notes due 2021

On July 15, 2011, Greif, Inc.’s wholly-owned subsidiary, Greif Nevada Holdings, Inc., S.C.S. (formerly Greif Luxembourg Finance S.C.A.) issued €200.0 million of 7.375% Senior Notes due July 15, 2021. These Senior Notes are fully and unconditionally guaranteed on a senior basis by Greif, Inc. Interest on these Senior Notes is payable semi-annually.

United States Trade Accounts Receivable Credit Facility

On September 31, 2013, the Company amended and restated its existing receivables facility in the United States to establish a $170.0 million United States Trade Accounts Receivable Credit Facility (the “Amended Receivables Facility”) with a financial institution. On December 1, 2015, the Amended Receivables Facility was amended to reduce the amount of available proceeds from $170 million to $150 million. The Amended Receivables Facility matures in September 2016, and the Company intends to refinance this facility on similar terms.