STAMFORD, Conn.--(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.