Pitney Bowes Provides Notice of Bond Repurchase
October 02 2013 - 10:58AM
Business Wire
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.
About Pitney Bowes
Pitney Bowes provides technology solutions for small, mid-size
and large firms that help them connect with customers to build
loyalty and grow revenue. Many of the company’s solutions are
delivered on open platforms to best organize, analyze and apply
both public and proprietary data to two-way customer
communications. Pitney Bowes includes direct mail, transactional
mail and call center communications in its solution mix along with
digital channel messaging for the Web, email and mobile
applications. Pitney Bowes: Every connection is a new opportunity™.
www.pb.com.
Pitney Bowes Inc.Editorial – Sheryl Y. BattlesVice President,
Corporate Communications203/351-6808orFinancial – Charles F.
McBrideVice President, Investor Relations203/351-6349orWebsite
–www.pitneybowes.com
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