R.R. Donnelley gets $1.2 billion bridge commitment for buyout by Atlas

By Sara Rosenberg

New York, Nov. 4 – R.R. Donnelley & Sons Co. has received a commitment for an up to $1.2 billion senior secured bridge loan for the purchase of some of its existing notes in connection with any change of control offers made with its acquisition by Atlas Holdings LLC, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The company also intends to amend its existing ABL credit facility to permit the change of control.

JPMorgan Chase Bank and Macquarie Capital provided the debt commitment.

Under the agreement, R.R. Donnelley is being bought for $8.52 per share in cash. The transaction has a total enterprise value of about $2.1 billion.

Other funds for the transaction will come from up to $900 million of equity.

Closing is expected in the first half of 2022, subject to customary conditions, including approval by R.R. Donnelley stockholders and receipt of regulatory approvals.

There is a 25 day go shop period.

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

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