Pitney Bowes Retires $46.47M Debt Through Tender Offers

By Ahmed Jamerson • Monday, September 21 16:01 • Permanent Link

Pitney Bowes said its cash tender offers for two note series expired Sept. 18 with $46.47 million of debt validly tendered, or 92.9% of the $50 million maximum tender amount.

The company accepted all of the notes that were tendered. That included $40.77 million of its 6.70% notes due 2043 and $5.70 million of its 5.250% medium-term notes due 2037.

The 2043 notes accounted for the bulk of the response, with $40.77 million tendered against $349.28 million outstanding, while the 2037 notes drew $5.70 million tendered against $31.14 million outstanding. Together, the two accepted amounts matched the total tendered amount of $46.47 million.

Pitney Bowes said the offers were launched Aug. 20 and settled under the procedures in the offer to purchase. Today the company's shares have moved -1.57% to a price of $16.585. For more information, read the company's full 8-K submission here.

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