R.R. Donnelley driving by with $350 million 8.5-year bullet notes

By Paul A. Harris

Portland, Ore., Aug. 12 - R.R. Donnelley & Sons Co. plans to price a $350 million offering of non-callable 8.5-year senior notes (existing ratings Ba3/BB) Monday, trailing a late morning investor call, according to a syndicate source.

BofA Merrill Lynch, Citigroup Global Markets, J.P. Morgan Securities LLC and U.S. Bancorp are the joint bookrunners.

Mitsubishi, Wells Fargo Securities LLC, Fifth Third, PNC Capital Markets, TD Securities, Morgan Stanley, Comerica and Wedbush are the co-managers.

The publicly offered notes come with a make-whole redemption provision at Treasuries plus 50 basis points and feature a 101% poison put.

The Chicago-based provider of integrated communication solutions plans to use the proceeds, together with a draw on its revolver, to partially fund the tender offers for up to $350 million of its debt securities including the 5½% notes due 2015, the 6 1/8% notes due 2017 and the 7¼% notes due 2018.

The deal was also announced in a 424B5 filing with the Securities and Exchange Commission.

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