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Donnelley Closes $400 Million Debt Offering

March 21, 2014
CHICAGO—RR Donnelley has closed an offering of $400 million aggregate principal amount of 6 percent Notes due 2024.

As previously announced, RR Donnelley intends to use the net proceeds from the offering, along with borrowings under its revolving credit facility, (1) to partially fund tender offers for up to $400 million aggregate principal amount of its debt securities, including up to $100 million of its 7.250 percent Notes due May 15, 2018, up to $250 million of its 8.250 percent Notes due March 15, 2019, and up to $50 million of its 7.625 percent Notes due June 15, 2020, and (2) to pay premiums in connection with those tender offers.

The completion of each tender offer will be subject to customary closing conditions. If there are any remaining proceeds from the notes, RR Donnelley intends to use those proceeds to repay borrowings under its revolving credit facility and for general corporate purposes. Amounts repaid under its revolving credit facility may be reborrowed for general corporate purposes, including the repayment or redemption of other indebtedness.

BofA Merrill Lynch, Citigroup, J.P. Morgan, Mitsubishi UFJ Securities, US Bancorp and Wells Fargo Securities were the joint book-running managers for the offering.
 

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