RR Donnelley Closes $450 Million Debt Offering
14 March 2012 - 12:29AM
R.R. Donnelley & Sons Company (Nasdaq:RRD) ("RR Donnelley" or
the "Company") announced that it has closed an offering of $450
million aggregate principal amount of 8.25% Notes due 2019.
As previously announced, RR Donnelley intends to use the net
proceeds from this offering (1) to partially fund tender offers for
up to $450 million aggregate principal amount of its debt
securities, including up to $350 million aggregate principal amount
of its 4.95% Notes due 2014 and up to $100 million aggregate
principal amount of its 5.50% Notes due 2015 and (2) to pay
premiums in connection with those tender offers. The completion of
each such tender offer will be subject to customary closing
conditions. 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.
BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities were
the joint book-running managers for the offering.
This announcement is for informational purposes only and does
not constitute an offer to purchase or a solicitation of an offer
to sell securities. The tender offers are being made solely by
means of the Offer to Purchase and the related Letter of
Transmittal, which are being distributed to holders of notes by RR
Donnelley. The tender offers are not being made in any jurisdiction
in which such offer, solicitation or acceptance thereof would not
be in compliance with the securities, blue sky or other laws of
such jurisdiction. In any jurisdiction where the laws require a
tender offer to be made by a licensed broker or dealer, the tender
offers will be deemed to be made on behalf of RR Donnelley by the
dealer managers, or one or more registered brokers or dealers under
the laws of such jurisdiction.
About RR Donnelley
RR Donnelley (Nasdaq:RRD) is a global provider of integrated
communications. The Company works collaboratively with more than
60,000 customers worldwide to develop custom communications
solutions that reduce costs, enhance return on investment and
ensure compliance. Drawing on a range of proprietary and
commercially available digital and conventional technologies
deployed across four continents, the Company employs a suite of
leading Internet based capabilities and other resources to provide
premedia, printing, logistics and business process outsourcing
products and services to leading clients in virtually every private
and public sector.
For more information, and for RR Donnelley's Corporate Social
Responsibility Report, visit the Company's web site at
www.rrdonnelley.com.
Use of Forward-Looking Statements
This news release may contain "forward-looking statements" as
defined in the U.S. Private Securities Litigation Reform Act of
1995. Readers are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements
are qualified in their entirety by reference to the following
cautionary statements. All forward-looking statements speak only as
of the date of this news release and are based on current
expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements. Readers are
strongly encouraged to read the full cautionary statements
contained in RR Donnelley's filings with the SEC. RR Donnelley
disclaims any obligation to update or revise any forward-looking
statements.
CONTACT: RR Donnelley Investor Contact:
Dave Gardella
Senior Vice President
Finance
312-326-8155
david.a.gardella@rrd.com
RR Donnelley Media Contact:
Doug Fitzgerald
Executive Vice President
Communications
630-322-6830
doug.fitzgerald@rrd.com
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