R.R. Donnelley may pay down revolver with proceeds of new issue

By Angela McDaniels

Tacoma, Wash., Feb. 28 - R.R. Donnelley & Sons Co. plans to use the proceeds of a new issue of notes to partially fund two tender offers and, if there are any remaining proceeds, to repay borrowings under its revolving credit facility, according to a company news release.

The company plans to offer $300 million of senior notes due 2019.

Amounts repaid under the revolver may be reborrowed for general corporate purposes, including the repayment or redemption of other debt.

The company began tender offers for up to $350 million total principal amount of its 4.95% notes due 2014 and 5½% notes due 2015 on Tuesday. They will end on March 26.

Bank of America Merrill Lynch (800 294-1322), J.P. Morgan Securities LLC (800 245-8812) and Wells Fargo Securities LLC (800 326-5897) will be the bookrunners for the new issue.

R.R. Donnelley is a Chicago-based provider of premedia, printing, logistics and business process outsourcing products and services.

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