Pitney Bowes Announces Significant Progress on Deleveraging Initiative with Paydown of $100M of Oaktree Notes
Pitney Bowes Inc. (PBI)
Last pitney bowes inc. earnings: 2/4 07:00 am
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Source: Business Wire
STAMFORD, Conn.--(BUSINESS WIRE)--Pitney Bowes Inc. (NYSE: PBI) (“Pitney Bowes” or the “Company”), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it has repaid $100 million of the $275 million in senior secured notes (“2028 Notes”) issued by Oaktree Capital Management, L.P. (“Oaktree”), the balance of which was $272 million as of September 30, 2024. The partial payment of the 2028 Notes is part of the Company’s previously announced strategic initiative to deleverage its balance sheet. The repayment was funded by cash on hand.Lance Rosenzweig, Pitney Bowes’ Chief Executive Officer, commented: “Our accelerated progress on our strategic initiatives of exiting GEC, reducing costs and optimizing our cash position is enabling us to take concrete steps to deleverage our balance sheet. The partial payment of our Oaktree 2028 Notes is the first step towards reducing interest pay
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PBI
Earnings
- 11/7/24 - Beat
PBI
Sec Filings
- 12/20/24 - Form 8-K
- 12/17/24 - Form 4
- 12/12/24 - Form 3
- PBI's page on the SEC website