RR Donnelley & Sons Closes $400 Mln Debt Offering - Quick Facts

(RTTNews) - R.R. Donnelley & Sons Company (RRD) announced the closing of an offering of $400 million aggregate principal amount of 6.000% Notes due 2024.

RR Donnelley said as previously announced, it intends to use the net proceeds from the offering, along with borrowings under its revolving credit facility 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% Notes due May 15, 2018, up to $250 million of its 8.250% Notes due March 15, 2019 and up to $50 million of its 7.625% Notes due June 15, 2020 and also to pay premiums in connection with those tender offers.

The company stated that the completion of each tender offer will be subject to customary closing conditions and 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.