CHICAGO, Feb. 28, 2013 (GLOBE NEWSWIRE) -- R.R. Donnelley & Sons Company ("RR Donnelley" or the "Company") (Nasdaq:RRD) announced today that it has priced an offering of $450 million of its 7.875% Notes due 2021 in an underwritten public offering. The offering is expected to close on March 14, 2013.
RR Donnelley intends to use the net proceeds from the offering, along with borrowings under its revolving credit facility, (1) to fund tender offers for up to $500 million aggregate principal amount of its debt securities, including up to $300 million of its 6.125% Notes due January 15, 2017, up to $150 million of its 8.600% Notes due August 15, 2016 and up to $50 million of its 7.25% Notes due May 15, 2018 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.
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 prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the Securities and Exchange Commission. BofA Merrill Lynch, J.P. Morgan, Wells Fargo Securities and Mitsubishi UFJ Securities are acting as the joint book-running managers for the offering. When available, copies of the prospectus supplement and the accompanying prospectus for the offering may be obtained from: BofA Merrill Lynch toll-free at 1-800-294-1322, J.P. Morgan toll-free at 1-800-245-8812, Wells Fargo Securities toll-free at 1-800-326-5897 and Mitsubishi UFJ Securities toll-free at 1-877-649-6848.