Pitney Bowes has redeemed all of its $347 million 6.875% Senior Notes due March 2027, eliminating its nearest-term debt maturity, and upsized its Term Loan A credit facility by $150 million to a total outstanding balance of $302 million. The redemption was funded with proceeds from the upsized Term Loan A, along with existing cash and liquidity, and closed on June 24, 2026. The Term Loan A upsizing, which closed on June 23, 2026, involves new lenders beyond the company's historical relationship banks and carries no changes to existing terms, pricing, or the May 18, 2031 maturity date. CEO Kurt Wolf stated that the moves strengthen the balance sheet, reduce leverage, lower interest expense, and provide more flexibility for capital allocation, with the next scheduled debt maturity now in March 2029.
Pitney Bowes IncCompany redeemed high-cost debt and upsized credit facility, reducing leverage and interest expense.