[October 12, 2017] |
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Pitney Bowes Inc. Announces Redemption Price for Outstanding 4.75% Notes due 2018
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 ffer 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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