The Firm represented J.P. Morgan Securities LLC, as the sole initial purchaser, in connection with the Rule 144A/Regulation S offering (the “Offering”) by RRD Intermediate Holdings, Inc. (“RRD Intermediate”) of $360 million aggregate principal amount of 12.000% / 11.000% Senior PIK Toggle Notes due 2030.
RRD Intermediate intends to use the net proceeds from the Offering for general corporate purposes, including (i) future acquisitions by its subsidiary, R. R. Donnelley & Sons Company (“RRD”) or RRD’s restricted subsidiaries, (ii) investments in RRD growth initiatives, (iii) the repayment of indebtedness of RRD and (iv) the repayment, repurchase or redemption of a portion of RRD Parent, Inc.’s 10.00% Senior Notes due 2031 owned or beneficially owned by certain fund managed by Chatham Asset Management (in an amount not to exceed approximately one-third of the net proceeds from the Offering).
RRD is a leading global provider of marketing, packaging, print and supply chain solutions that elevate engagement across the complete customer journey. RRD offers the industry’s most trusted portfolio of creative execution and world-wide business process consulting, with services designed to lower environmental impact.
The Simpson Thacher team included John C. Ericson, Dave Azarkh, Evan Zuckerman and Julie De Keukeleire (Capital Markets); Michael Mann (Tax); Ron Ben-Yehuda and Chandler Gerard-Reimer (Intellectual Property); Pasco Struhs (ECEB); and Andrew Pagliughi (FINRA and Blue Sky).