RRD Announces Pricing of Upsized Offering of Senior PIK Notes
R.R. Donnelley & Sons Company (“RRD” or the “Company”) today announced the pricing of an offering of $900.0 million aggregate principal amount of 11.000% / 11.000% Senior PIK Notes due 2031 (the “Notes”) (the “Offering”). The Offering was upsized from the previously announced offering size of $750.0 million aggregate principal amount of Notes. The Offering is expected to close on May 26, 2026, subject to customary closing conditions.
The Company intends to use the proceeds from the Offering for (i) the repayment of $100.0 million principal amount of outstanding indebtedness under our existing Term Loan Credit Agreement (as defined in the offering memorandum), (ii) a dividend to enable (a) the redemption of all of RRD Intermediate Holdings, Inc.’s outstanding 12.000% / 11.000% Senior PIK Toggle Notes due 2030 (the “Intermediate Holdings Notes”), (b) the repayment, repurchase or redemption of certain of the outstanding 10.00% Senior PIK Notes due 2031 (the “Parent PIK Notes”) issued by RRD Parent, Inc., our indirect parent (“RRD Parent”) and (c) the payment of accumulated dividends on shares of RRD Parent’s 13.000% / 12.000% Series A Redeemable Perpetual Preferred Stock and (iii) the payment of fees and expenses in connection with the Offering.
