http://www.piworld.com/article/rr-donnelley-announces-350-million-debt-offering-in-underwritten-public-offering/1
R.R.
Donnelley & Sons Company is planning to offer $350 million of senior notes
due 2022 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 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.
