STAMFORD, Conn. April 26, 2001 - Pitney Bowes Inc. (NYSE: PBI), the leading global provider of integrated mail, messaging and document management solutions, announced today that it has issued $300 million of five-year, 5 7/8 percent notes at a yield of 5.897 percent, or 110 basis points above five-year Treasuries.
The proceeds will be used for general corporate purposes including the repayment of commercial paper, financing acquisitions and the repurchase of stock. Pitney Bowes bonds are rated AA and Aa3 by Standard & Poor's and Moody's Investors Service, respectively.
"The investor demand for this offering recognizes our continuing commitment to strong financial flexibility as we make investments and acquisitions to grow our business," said Pitney Bowes Vice President and Treasurer Dessa Bokides.
J.P. Morgan and Salomon Smith Barney served as the lead underwriters for this issuance.
Pitney Bowes is a $4 billion global provider of integrated mail, messaging and document management solutions headquartered in Stamford, Connecticut. The company serves over 2 million businesses of all sizes through dealer and direct operations.
WhatTheyThink is the global printing industry's go-to information source with both print and digital offerings, including WhatTheyThink.com, WhatTheyThink Email Newsletters, and the WhatTheyThink magazine. Our mission is to inform, educate, and inspire the industry. We provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today's printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.