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R.R. Donnelley to reduce borrowings under credit facility
By Taylor Fox
New York, Sept. 15 – R.R. Donnelley & Sons Co. plans to reduce its borrowings under its credit facility using proceeds from its $225 million sale of DLS Worldwide Logistics to TFI International, according to an 8-K filing with the Securities and Exchange Commission.
The remainder of the proceeds will be held temporarily as cash on hand until the company decides to further reduce outstanding borrowings on its credit facility and/or repurchase additional near term debt securities.
R.R. Donnelley is a Chicago-based provider of business communication services.
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