R.R. Donnelley to redeem some notes via proceeds of new term loan B

By Wendy Van Sickle

Columbus, Ohio, March 8 – R.R. Donnelley & Sons Co. plans to fully redeem its 6˝% senior notes due 2023 and 6% senior notes due 2024 with some proceeds of a new five-year $1.25 billon term loan B, according to a news release.

Some proceeds will also be used to make a dividend to the company’s indirect parent, RRD Parent, Inc., to permit the parent to use the proceeds of the dividend to redeem a portion of its outstanding 10% senior notes due 2031.

Also, in connection with the entry into the new term loan, certain investment funds affiliated with the company’s sponsor intend to exchange at least $114 million of certain of the company’s outstanding senior notes and debentures held by such funds for notes newly issued by RRD Parent.

R.R. Donnelley is a Chicago-based provider of multichannel business communications services and marketing solutions.

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