Pitney Bowes to repay $385 million 5.75% notes due 2017 via new notes

By Tali Rackner

Minneapolis, May 5 – Pitney Bowes Inc. plans to repay the $385 million aggregate principal amount of its 5.75% notes due September 2017 using cash on hand and the net proceeds from a $400 million offering of 3.875% notes due 2022, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds will also be used to repay the company’s $150 million term loan due June 2017.

The mail processing equipment company is based in Stamford, Conn.

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