RR Donnelley Announces $300 Million Debt Offering
R.R. Donnelley & Sons Company (Nasdaq: RRD) announced today that it plans to offer $300 million of senior notes due 2019 in an underwritten public offering.
RR Donnelley intends to use the net proceeds from this offering (1) to partially fund tender offers for up to $350 million aggregate principal amount of the Company's 4.95% Notes due 2014 and 5.50% Notes due 2015 based on prices to be determined and (2) to pay premiums in connection with those tender offers. If there are any remaining proceeds, RR Donnelley intends to use those proceeds to repay borrowings under its revolving credit facility. Amounts repaid under its revolving credit facility may be reborrowed for general corporate purposes, including the repayment or redemption of other indebtedness. RR Donnelley expects to announce that it is commencing these tender offers in a separate press release issued upon commencing such tender offers. The completion of each such tender offer will be subject to customary closing conditions.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.