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Pitney Bowes Inc. Commences Cash Tender Offers for Two Series of Notes
Businesswire· 2025-11-21 12:10
Core Points - Pitney Bowes Inc. has announced cash tender offers to purchase up to $75,000,000 aggregate principal amount of its outstanding 6.70% Notes due 2043 and 5.250% Medium-Term Notes due 2037 [1][3] - The tender offers are set to expire on December 19, 2025, unless extended or terminated earlier by the company [2] - The company reserves the right to adjust the maximum tender amount at any time, subject to compliance with applicable law [3][8] Tender Offer Details - The company is offering $21.25 for each $25 principal amount of the 2043 Notes and $767.50 for each $1,000 principal amount of the 2037 Notes [4] - Holders of the notes can withdraw their validly tendered notes until December 12, 2025 [6] - The settlement date for the tender offers is expected to be December 23, 2025, assuming all conditions are met [7] Financing and Fees - The company intends to finance the purchase of the tendered notes with cash on hand [8] - A soliciting dealer fee of $0.125 for each $25 principal amount of 2043 Notes and $5.00 for each $1,000 principal amount of 2037 Notes will be paid to designated retail brokers [9] Management and Agents - BofA Securities has been retained as the Dealer Manager for the tender offers, while Global Bondholder Services Corporation serves as the Information Agent and Tender Agent [10]