R.R. Donnelley & Sons To Offer $350 Mln Of Senior Notes Due 2022 - Quick Facts

(RTTNews) - R.R. Donnelley & Sons Co. (RRD) announced Monday that it plans to offer $350 million of senior notes due 2022 in an underwritten public offering.

The company stated that it intends to use the net proceeds from this offering, along with borrowings under its revolving credit facility, to fund tender offers for up to $350 million aggregate principal amount of the Company's 5.500% Notes due 2015, 6.125% Notes due 2017 and 7.250% Notes due 2018 based on prices to be determined and to pay premiums in connection with those tender offers.

The company said that if there are any remaining proceeds from the notes, it plans 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.

In a separate press release, R.R. Donnelley & Sons announced the commencement of cash tender offers for up to $350 million of its outstanding debt securities from the three series.

Upon the terms and subject to the conditions described in the Offer to Purchase, the Letter of Transmittal and any amendments or supplements to the foregoing, the company is offering to purchase for cash up to $100 million of its 5.500% Notes due May 15, 2015; up to $100 million of its 6.125% Notes due January 15, 2017, and up to $150 million of its 7.250% Notes due May 15, 2018.

Holders must validly tender their Securities at or prior to 5:00 p.m., New York City time, on August 23, 2013 to be eligible to receive the Total Consideration. The Tender Offers will expire at 11:59 p.m., New York City time, on September 9, 2013, unless extended or earlier terminated.