Donnelley Embarks on $400M Public Offering

CHICAGO—RR Donnelley is planning to offer $400 million of senior notes due 2022 in an underwritten public offering, the company announced.

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 $400 million aggregate principal amount of its 5.500 percent notes due 2015, 6.125 percent notes due 2017 and 7.250 percent notes due 2018 based on prices to be determined; 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 other 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 and US Bancorp will act as the joint book-running managers for the offering.