RR Donnelley in Astron offering

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. It covers the 541m the firm agreed to pay for Astron, including the repayment debt of the group.

Credit rater Moody's lowered RR Donnelley's rating, citing its plan to boost its debt to fund the deal.