R.R. Donnelley Continues Buying Binge, Makes $1.25 Billion Debt Offering
Printing giant, R.R. Donnelley & Sons said Wednesday it entered into an agreement with Visant Corp. to acquire Von Hoffman, a printer of books and other products that serve the education, trade and b-to-b catalog segments, for $412.5 million. Today, the company made a $1.25 billion debt offering to pay for its $1.3 billion acquisition of Banta Corp.
In its debt offering, the company is pricing its senior notes in two tranches -- $625 million at 5.625 percent, due Jan. 15, 2012; and $625 million at 6.125 percent, due Jan. 15, 2017. The company will use a portion of the notes in its acquisition of Banta, which includes the repayment of Banta's debt.