RR Donnelley Closes $400 Million Debt Offering
March 20 2014 - 11:13AM
R.R. Donnelley & Sons Company (Nasdaq:RRD) ("RR Donnelley" or
the "Company") announced that it has closed an offering of $400
million aggregate principal amount of 6.000% Notes due 2024.
As previously announced, RR Donnelley intends to use the net
proceeds from the 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 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 (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.
BofA Merrill Lynch, Citigroup, J.P. Morgan, Mitsubishi UFJ
Securities, US Bancorp and Wells Fargo Securities were the joint
book-running managers for the offering. Copies of the prospectus
supplement and the accompanying base 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 is for informational purposes only and does
not constitute an offer to sell or a solicitation of an offer to
buy 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), a Delaware corporation, helps
organizations communicate more effectively by working to create,
manage, produce, distribute and process content on behalf of its
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
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