RRD Announces Pricing of Senior Secured Notes Offering

R.R. Donnelley & Sons Company announced the pricing of an offering of $400 million aggregate principal amount of 6.125% senior secured notes due 2026 (the “Notes”) at a price of 100% of the principal amount of the Notes. The aggregate principal amount of the Notes to be issued in the offering was increased to $400 million from the previously announced $350 million. The Notes will be general senior secured obligations of the Company and will be guaranteed by the Company’s domestic, wholly-owned subsidiaries that guarantee the Company’s existing term loan B credit facility (the “Term Loan Facility”) and its amended and restated senior secured asset-based revolving credit facility (the “ABL Credit Facility”). The offering is expected to close on April 28, 2021, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering to repay approximately $338 million aggregate principal amount of the loans outstanding under the Term Loan Facility, with the remainder to repay a portion of the borrowings (without a reduction in commitments) under the ABL Credit Facility and for general corporate purposes.

The Notes and the related subsidiary guarantee were offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes and the related subsidiary guarantee have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.

This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Source: RR Donnelley

The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Printing Impressions.