WhatTheyThink

Pitney Bowes Provides Notice of Bond Repurchase

Press release from the issuing company

STAMFORD, Conn. - Pitney Bowes Inc. (NYSE:PBI) today announced notice of its election to redeem its remaining August 2014 bonds valued at approximately $300 million. The bonds will be repurchased with proceeds from the sale of its Management Services business to funds affiliated with Apollo Global Management, LLC, which was completed October 1, 2013. This action is consistent with the company’s commitment to a balanced and disciplined capital allocation strategy focused on maintaining a strong balance sheet and investment grade debt ratios.

Discussion

Join the discussion Sign In or Become a Member, doing so is simple and free