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RR Donnelley Closes $400 Million Debt Offering

Intends to use the net proceeds to partially fund tender offers

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

R.R. Donnelley & Sons Company announced that it has closed an offering of $400 million aggregate principal amount of 7.000% notes due 2022.

As previously announced, RR Donnelley intends to use the net proceeds from this 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 5.500% Notes due May 15, 2015, up to $100 million of its 6.125% Notes due January 15, 2017 and up to $200 million of its 7.250% Notes due May 15, 2018 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.

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