RRD Completes Previously Announced Refinancing Transactions, Addressing Nearly Half of its 2023 and 2024 Senior Note Maturities
R.R. Donnelley & Sons Company (RRD)
US:NASDAQ Investor Relations:
rrdonnelley.com
Company Research
Source: Business Wire
CHICAGO--(BUSINESS WIRE)--R. R. Donnelley & Sons Company (NYSE: RRD) (“RRD” or the “Company”) is pleased to announce that it successfully completed a series of previously disclosed privately negotiated refinancing transactions with the largest holder of its outstanding senior notes (the “Seller”) that address a significant portion of the Company’s 2023 and 2024 debt maturities.The refinancing transactions included:On March 16, 2020, the repurchases of approximately $6.6 million of RRD’s 7.00% Senior Notes due 2022 and approximately $20 million of RRD’s 6.00% Senior Notes due 2024 (the “2024 Notes”) owned by the Seller at a price equal to 99%, plus accrued and unpaid interest. RRD funded such repurchases with a draw from its senior secured asset based lending facility.In a series of closings completed on April 8, 2020, the private exchange of approximately $277 million aggregate principal amount of RRD’s outstanding indebtedness owned by the Seller, consisting of approximately $54
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