Print and related services provider R.R. Donnelley & Sons Co. (RRD) said it plans to offer $350 million of senior notes due 2021 in an underwritten public offering.
The company would use the net proceeds, along with borrowings under its revolving credit facility, to fund tender offers for up to $400 million aggregate principal amount of its 6.125% notes due 2017, 8.600% notes due 2016 and 7.25% notes due 2018, based on prices to be determined and to pay premiums relating to those tender offers. If there are any remaining proceeds from the notes, RR Donnelley plans to use those proceeds to repay borrowings under its revolving credit facility and for general corporate purposes.
RR Donnelley expects to announce that it is commencing these tender offers in a separate press release issued upon commencing the tender offers.
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