Pitney Bowes Inc. Announces Redemption Price for Outstanding 4.75% Notes due 2018
October 12 2017 - 8:45AM
Business Wire
On September 12, 2017, Pitney Bowes Inc. (NYSE: PBI) called for
redemption of all of its outstanding 4.75% Notes due 2018 (the
“Notes”), which were issued pursuant to an Indenture dated as of
February 15, 2002, as supplemented and amended from time to time
(the “Indenture”), between the Company, as issuer, and U.S. Bank
National Association, successor to SunTrust Bank, as trustee.
The Notes will be redeemed on October 13, 2017 (the “Redemption
Date”) at a redemption price as determined by the quotation agent
and calculated in accordance with the terms of the Notes. The
redemption price has been set as $1,019.47 per $1,000 principal
amount of such redeemed notes. In addition to the redemption price,
redeeming holders of such notes will receive approximately $19.53
in accrued and unpaid interest per $1,000 principal amount of notes
being redeemed. Therefore, the total amount paid per $1,000
principal amount of notes being redeemed will be approximately
$1,039.00, reflecting a redemption price of $1,019.47, plus
approximately $19.53 in accrued and unpaid interest. Payment of the
redemption price, as well as any unpaid and accrued interest will
occur on Monday, October 16, 2017, the first business day following
the Redemption Date, in accordance with the terms of the
Indenture.
A notice of redemption is to be delivered by U.S. Bank National
Association to all registered holders of the Notes. Copies of the
Notes and the notice of redemption may be obtained by contacting
the Company’s investor relations department at (203) 351-7175.
This press release shall not constitute a notice of redemption
of the notes or an offer to sell, or a solicitation of an offer to
buy, any securities, and shall not constitute an offer,
solicitation or sale in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful.
About Pitney Bowes
Pitney Bowes (NYSE: PBI) is a global technology company powering
billions of transactions – physical and digital – in the connected
and borderless world of commerce. Clients around the world,
including 90 percent of the Fortune 500, rely on products,
solutions and services from Pitney Bowes in the areas of customer
information management, location intelligence, customer engagement,
shipping, mailing, and global ecommerce. And with the innovative
Pitney Bowes Commerce Cloud, clients can access the broad range of
Pitney Bowes solutions, analytics, and APIs to drive commerce. For
additional information visit Pitney Bowes, the Craftsmen of
Commerce, at www.pitneybowes.com.
This document contains “forward-looking statements” about the
Company’s intention to redeem the Notes. Forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties that could cause actual results to differ materially
from those projected. These risks and uncertainties include, but
are not limited to: administrative difficulties in effecting the
redemption of the Notes; mail volumes; the uncertain economic
environment; timely development, market acceptance and regulatory
approvals, if needed, of new products; fluctuations in customer
demand; changes in postal regulations; interrupted use of key
information systems; the ability to protect the Company’s
information technology systems against service interruptions,
misappropriation of data, or breaches of security resulting from
cyber-attacks or other events; management of outsourcing
arrangements; the implementation of a new enterprise business
platform; changes in business portfolio; the success of our
investment in rebranding the Company; the risk of losing some of
the Company’s larger clients in the Global Ecommerce segment;
integrating newly acquired businesses, including operations and
product and service offerings; foreign currency exchange rates;
changes in our credit ratings; management of credit risk; changes
in interest rates; the financial health of national posts;
increased customs and regulatory risks associated with cross-border
transactions; and other factors beyond its control as more fully
outlined in the Company’s 2016 Form 10-K Annual Report and other
reports filed with the Securities and Exchange Commission. The
Company assumes no obligation to update any forward-looking
statements contained in this document as a result of new
information, events or developments.
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version on businesswire.com: http://www.businesswire.com/news/home/20171012005713/en/
Pitney Bowes Inc.Editorial -Sheryl Battles, 203-351-6808VP,
CommunicationsorFinancial -Adam David, 203-351-7175VP,
Investor Relations
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