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Bank of America, Others Amend, Extend ABL Revolver for R.R. Donnelley

April 20, 2021, 08:03 AM
Filed Under: Communications

R.R. Donnelley & Sons completed an amendment to the credit agreement for its senior secured asset-based revolving credit facility with Bank of America, JPMorgan Chase Bank, PNC Bank, and Wells Fargo Bank, acting as joint lead arrangers and joint book runners for the ABL Amendment.

The ABL Amendment, among other things, extends the maturity date of the ABL Credit Facility to April 16, 2026. As amended, the ABL Credit Facility provides up to $650 million 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 substantially oversubscribed with seven incumbent and one new financial institution.

“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,” said Terry Peterson, Executive Vice President and Chief Financial Officer of RRD. “We appreciate the enthusiastic support from our valued banking partners and their confidence in RRD.”

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