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R.R. Donnelley & Sons Company (RRD) has been recognized in Ad Age’s 77th annual Agency Report, marking the third consecutive year for its Marketing Solutions segment. The report ranks agencies based on 2020 revenue, placing RRD Marketing Solutions at #6 among U.S. agencies from all disciplines and #16 among the world's largest agency companies. Additionally, it ranks #6 in the U.S. CRM/Direct Marketing Networks and #7 globally in the same category. This acknowledgment reflects RRD's commitment to modernizing services and addressing client needs amid challenges.
R.R. Donnelley & Sons Company (NYSE: RRD) announced a $50 million add-on offering of 6.125% senior secured notes due 2026, pricing at 102.25% of principal. The funds will be used to repay outstanding loans under its Term Loan Facility and for general corporate purposes. The offering is expected to close on May 10, 2021, pending customary conditions. These notes will be guaranteed by the Company's domestic subsidiaries and will be treated as a single series with previously issued notes of the same terms.
R.R. Donnelley & Sons Company (NYSE: RRD) plans to offer an additional $50 million in 6.125% senior secured notes due 2026, conditional on market conditions. The proceeds will primarily be used to repay approximately $49.25 million of existing loans under the Term Loan Facility. The offering is targeted at qualified institutional buyers under Rule 144A and non-U.S. persons outside the U.S. The notes will be secured by the Company’s subsidiaries, similar to previously issued notes in April 2021.
Chatham Asset Management, holding 9.8% of R.R. Donnelley & Sons Company (RRD), praised the company's recent operational performance and proposed actions for value enhancement. Recommendations include removing the 'poison pill' to foster increased institutional support, initiating a $30 million stock buyback to bolster confidence, and conducting a non-deal equity roadshow. Chatham highlighted the success of RRD's recent bond deal, noting a significant reduction in credit default swap spreads, indicating improved financial stability, despite a puzzling 20% drop in stock price following earnings release.
R.R. Donnelley & Sons Company (NYSE: RRD) reported Q1 2021 financial results showing a 3.6% decline in GAAP net sales to $1.17 billion, impacted by pandemic-related factors and unfavorable foreign exchange of approximately $11 million. Income from operations fell 24.2% to $25.1 million, with a loss per share of $0.03. Despite these challenges, cash flow improved by $61 million year-over-year, supported by cost reductions. The company expects flat to low single-digit growth in net sales for the year amid ongoing market uncertainties.
R.R. Donnelley & Sons Company (RRD) announced a strategic effort to enhance COVID-19 testing across various sectors, including schools and businesses. Partnering with Invenio Genetics, RRD aims to provide tailored, efficient testing solutions while supporting underserved communities. Their comprehensive approach includes multichannel outreach and logistics for test kit distribution, ensuring compliance with medical protocols. This initiative is positioned to boost supply chain continuity and support safe workplace reopenings, addressing the urgent demand for accurate testing and information amidst the pandemic.
R.R. Donnelley & Sons Company (NYSE: RRD) announced the completion of an amendment (ABL Amendment) to its senior secured asset-based revolving credit facility. The amendment extends the maturity date to April 16, 2026, and provides up to $650 million in available credit. The applicable margin for base rate loans will range from 0.25% to 0.75%, while Eurocurrency loans will range from 1.25% to 1.75%. The facility was oversubscribed, indicating strong support from financial institutions. This move enhances RRD's financial flexibility in alignment with its strategic goals.
R.R. Donnelley & Sons Company (NYSE: RRD) has priced an offering of $400 million in senior secured notes due 2026, increased from the initially planned $350 million. The notes yield 6.125% and will close on April 28, 2021, pending customary conditions. Proceeds will be utilized to pay down $338 million of the Term Loan Facility and for general corporate purposes. These notes are available to qualified institutional buyers under Rule 144A and have not been registered under the Securities Act.
R.R. Donnelley & Sons Company (NYSE:RRD) will report its first quarter results after market close on April 27, 2021. A conference call is scheduled for April 28, 2021, at 11:00 am ET. Investors can access the earnings report and accompanying presentation on the RRD website. Advance registration is required for the webcast and phone participation. The company, a global leader in multichannel business communications, serves 30,000 clients in 28 countries, helping them optimize customer engagement and streamline operations.
R.R. Donnelley & Sons Company (NYSE: RRD) plans to offer $350 million in senior secured notes due 2026, subject to market conditions. The funds will be utilized to repay around $289 million of existing loans under its Term Loan Facility and for general corporate purposes. These notes will be secured by the company's domestic subsidiaries and will only be available to qualified institutional buyers and non-U.S. persons. This move aims to optimize the company’s capital structure and manage debt effectively.
