R.R. Donnelley & Sons completed an amendment to the credit agreement for its senior secured asset-based revolving credit facility. Bank of America, JPMorgan Chase Bank, PNC Bank and Wells Fargo Bank are the joint lead arrangers and joint book runners for the agreement.
The ABL amendment, among other things, extends the maturity date of the ABL credit facility to April of 2026. As amended, the ABL credit facility provides up to $650 million in available credit, subject to borrowing base limitations. After giving effect to the ABL amendment, the applicable margin for base rate loans will range from 0.25% to 0.75% and the applicable margin for Eurocurrency loans will range from 1.25% to 1.75%. The ABL credit facility, as amended by the ABL amendment, was oversubscribed with seven incumbent financial institutions and one new one.
“Our successful completion of the ABL amendment, in addition to last week’s pricing of $400 million of senior secured notes, demonstrates our sustained commitment to improving our financial flexibility in support of our strategic priorities,” Terry Peterson, executive vice president and CFO of R.R. Donnelley & Sons, said. “We appreciate the enthusiastic support from our valued banking partners and their confidence in RRD.”
R.R. Donnelley & Sons is a global provider of multichannel business communications services and marketing solutions.
