RR Donnelley raises funds to buy Astron

News by

25 May 2005

RR Donnelley has completed a 546m ($1bn) debt offering to fund its acquisition of Astron.

The deal was in two 273m tranches due in May 2010 and 2015 respectively.

It covers the 541m the firm agreed to pay for Astron, which includes the repayment of the business process-outsourcing group's debt.

Last week credit rating service Moody's downgraded RR Donnelley's rating citing the firm's plans to fund the acquisition by boosting its debt.

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