Publisher RR Donnelley - which two weeks ago told its Jefferson City employees that the local plant is closing Oct. 1 - is looking to refinance some of its current financial notes.
The industry magazine Printing Impressions/PIWorld.com reported Friday that Donnelley hopes to raise $400 million by selling senior notes that would be due in 2022.
The offer also was posted in a link on Donnelley's website, www.rrdonnelley.com.
Nothing in the magazine story or in Donnelley's online posting connected the financial activity with the July 31 Jefferson City plant-closing announcement.
The PI World story said Donnelley announced it would use the net proceeds from the underwritten public offering, along with borrowings under its revolving credit facility, to fund tender offers for up to $400 million total - including up to $100 million on its 5.500 percent notes due May 15, 2015; up to $100 million on its 6.125 percent notes due Jan. 15, 2017; and up to $200 million on its 7.250 percent notes that are due May 15, 2018.
Prices for the offers are to be determined. The money raised also would be used to pay premiums in connection with the tender offers.
RR Donnelley said if there are any remaining proceeds from the notes, the company would use those proceeds to repay borrowings under its revolving credit facility, and for general corporate purposes.
The company noted that amounts repaid under its revolving credit facility "may be reborrowed for general corporate purposes, including the repayment or redemption of other indebtedness."
The PI World story said RR Donnelley expects to announce that it is commencing these tender offers in a separate press release, to be issued upon commencing the tender offers. The completion of each tender offer will be subject to customary closing conditions.