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Pitney Bowes Announces An Increase In The Maximum Series Tender Cap For Its 2016 Notes And The Early Tender Results For Its Previously Announced Cash Tender Offers For Notes

Pitney Bowes Inc. (NYSE:PBI) (the “Company,” “us” or “Pitney Bowes”) today announced the early tender results as of 5:00 p.m. (New York City time) on March 11, 2013 (the “Early Tender Time”) for its previously announced 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”).

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 the terms and conditions of the Offers.

As of the Early Tender Time, $148,446,000 principal amount of the 2014 Notes, $124,496,000 principal amount of the 2015 Notes and $128,814,000 principal amount of the 2016 Notes, or a total of $401,756,000 principal amount of all Notes, were validly tendered and not validly withdrawn in the Offers.

Additionally, the “Maximum Series Tender Cap” for the Company’s Offer for its 2016 Notes is being increased from $75,000,000 to $130,000,000. All other terms of the Offers, as previously announced, remain unchanged.

Subject to the terms and conditions of the Offers, the Company expects that it will accept for purchase all of the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time. Pursuant to the terms of the Offers, holders of additional Notes may tender additional Notes at or prior to 11:59 p.m. (New York City time) on March 25, 2013, unless any one or more of the Offers for the Notes are extended or earlier terminated by the Company in its sole discretion (the date and time, as the same may be extended or earlier terminated with respect to any one or more of the Offers, the “Expiration Time”).

Stock quotes in this article: PBI 

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