RR Donnelley Announces $350 Million Debt Offering
07 March 2014 - 12:42AM
R.R. Donnelley & Sons Company ("RR Donnelley" or the "Company")
(Nasdaq:RRD) announced today that it plans to offer $350 million of
senior notes due 2024 in an underwritten public offering.
RR Donnelley intends to use the net proceeds from this offering,
along with borrowings under its revolving credit facility, (1) to
fund tender offers for up to $350 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 aggregate principal
amount of its 7.625% Notes due June 15, 2020 (with the amount of
7.625% Notes due June 15, 2020 accepted reduced on a dollar for
dollar basis to the extent that tenders for its 7.250% Notes due
May 15, 2018 and its 8.250% Notes due March 15, 2019 exceed $300
million in the aggregate) and (2) to pay premiums in connection
with those tender offers. 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 indebtedness. RR Donnelley
expects to announce that it is commencing these tender offers in a
separate press release issued upon commencing the tender
offers. The completion of each tender offer will be subject to
customary closing conditions.
The notes are being offered pursuant to the Company's existing
shelf registration statement, which became automatically effective
upon filing with the Securities and Exchange Commission. A
preliminary prospectus supplement and accompanying prospectus
describing the terms of the offering will be filed with the
Securities and Exchange Commission. BofA Merrill Lynch,
Citigroup, J.P. Morgan, Mitsubishi UFJ Securities, US Bancorp and
Wells Fargo Securities will act as the joint book-running managers
for the offering. When available, copies of the preliminary
prospectus supplement and the accompanying prospectus for the
offering may be obtained from: BofA Merrill Lynch toll-free at
1-800-294-1322, Citigroup toll-free at 1-800-831-9146, J.P. Morgan
(c/o Broadridge Financial Solutions) toll-free at 1-866-803-9204,
Mitsubishi UFJ Securities toll-free at 1-877-649-6848, US Bancorp
toll-free at 1-877-558-2607 and Wells Fargo Securities toll-free at
1-800-326-5897.
This announcement does not constitute an offer to purchase or a
solicitation of an offer to sell securities, nor shall there be any
sales of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities law of such
jurisdiction. The tender offers, if made, will be made solely
by means of an Offer to Purchase and a related Letter of
Transmittal. 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 for such tender offers, or one or more registered
brokers or dealers under the laws of such jurisdiction.
About RR Donnelley
RR Donnelley (Nasdaq:RRD), a Delaware corporation, helps
organizations communicate more effectively by working to create,
manage, produce, distribute and process content on behalf of our
customers. The Company assists customers in developing and
executing multichannel communication strategies that engage
audiences, reduce costs, drive revenues and increase compliance.
R.R. Donnelley's innovative technologies enhance digital and print
communications to deliver integrated messages across multiple media
to highly targeted audiences at optimal times for clients in
virtually every private and public sector. Strategically located
operations provide local service and responsiveness while
leveraging the economic, geographic and technological advantages of
a global organization.
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"
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, and 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
Investor Relations
312-326-8155
david.a.gardella@rrd.com
RR Donnelley Media Contact:
Phyllis Burgee
Director, Communications
630-322-6093
phyllis.burgee@rrd.com
Donnelley (R.R.) & Sons Co. (NYSE:RRD.WI)
Historical Stock Chart
From Jul 2024 to Aug 2024
Donnelley (R.R.) & Sons Co. (NYSE:RRD.WI)
Historical Stock Chart
From Aug 2023 to Aug 2024