RR Donnelley

RRD Spinoff Donnelley Financial Solutions Prices $300M Senior Notes Offering
September 28, 2016 at 1:47 pm

Donnelley Financial Solutions has announced the pricing of its 8.250% Senior Notes due 2024, which are referred to as the senior notes, in the aggregate principal amount of $300 million. Donnelley Financial also priced its $350 million senior secured term loan B facility under its new credit agreement, under which Donnelley Financial will borrow at 4.00% over LIBOR, subject to a LIBOR floor of 1.00%. The senior notes initially will be guaranteed, jointly and severally, on an unsecured basis, by each of the Company's existing and future direct and indirect wholly-owned U.S. subsidiaries that guarantee the Company's obligations under its senior secured credit facilities. The financing transactions are expected to close on Sept. 30, 2016, in connection with the contribution to Donnelley Financial of the financial communications and data services business of RRD.

RRD Spinoff LSC Communications Prices $450M Senior Secured Notes Offering
September 27, 2016 at 1:35 pm

LSC Communications has announced the pricing of its 8.750% Senior Secured Notes due 2023, which is referred to as the senior secured notes, in the aggregate principal amount of $450 million. LSC Communications also priced its $375 million senior secured term loan B facility under its new credit agreement, under which LSC Communications will borrow at 6.00% over LIBOR, subject to a LIBOR floor of 1.00%. The financing transactions are expected to close on September 30, 2016 in connection with the contribution to LSC Communications of the publishing and retail-centric print services and office products businesses of RRD.

RRD Board Approves Spinoffs of LSC Communications and Donnelley Financial Solutions
September 15, 2016 at 12:00 am

RR Donnelley & Sons Company (RRD) announced today that its board of directors has approved the distribution to its shareholders of approximately 80.75% of the outstanding shares of each of LSC Communications, and Donnelley Financial Solutions, which will result in three distinct, publicly traded companies. Each RRD shareholder of record as of the close of business on Sept. 23, 2016, the record date for the distribution, will receive on the distribution date one share of LSC Communications common stock and one share of Donnelley Financial common stock for every eight shares of RRD common stock held as of the record date. The RRD board also approved the implementation of a 1:3 reverse stock split for RRD.