This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pitney Bowes Announces Cash Tender Offers For Notes

Pitney Bowes Inc. (NYSE:PBI) (the “Company,” “us” or “Pitney Bowes”) today announced it has commenced cash tender offers (the “Offers”) for its 4.875% Medium-Term Notes due 2014 (the “2014 Notes”), 5.000% Notes due 2015 (the “2015 Notes”) and 4.750% Medium-Term Notes due 2016 (the “2016 Notes” and, together with the 2014 Notes and the 2015 Notes, the “Notes”).

Concurrently with the Offers, the Company intends to offer and sell new debt securities of the Company through an underwritten public offering (the “Notes Offering”). The net proceeds of the Notes Offering, in addition to cash on hand, will be used to finance the purchase of the Notes validly tendered (and not validly withdrawn) and accepted for purchase pursuant to the Offers, and to pay all fees and expenses in connection therewith.

The Offers are being made pursuant to an Offer to Purchase, dated February 26, 2013 (the “Offer to Purchase”) and related Letter of Transmittal, dated February 26, 2013 (the “Letter of Transmittal”), which set forth a description of terms of the Offers. A summary of the Offers is outlined below:
Title of Security/

CUSIP No.
  Outstanding Principal Amount   Maximum Series Tender Cap   Reference U.S. Treasury Security  

Bloomberg Reference Page

(1)
  Fixed Spread (Basis Points)  

Early Tender Premium

(2)
4.875% Medium-Term Notes due 2014 (CUSIP No. 72447WAU3) $450,000,000 $160,000,000 0.250% due January 31, 2015 BBT1 50 $30
 
5.000% Notes due 2015 (CUSIP No. 724479AG5) $400,000,000 $100,000,000 0.250% due January 31, 2015 BBT1 150 $30
 
4.750% Medium-Term Notes due 2016 (CUSIP No. 72447XAA5) $500,000,000 $50,000,000 0.375% due February 15, 2016 BBT1 200 $30

(1) The applicable page on Bloomberg from which the Joint Dealer Managers will quote the bid side prices of the applicable Reference U.S. Treasury Security.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,215.45 -312.58 -1.89%
S&P 500 1,930.10 -42.08 -2.13%
NASDAQ 4,688.9450 -87.5630 -1.83%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs