Pitney Bowes plans to pay down debt with proceeds from business sale

By Sarah Lizee

Olympia, Wash., Dec. 2 – Pitney Bowes Inc. plans to pay down debt with proceeds from the sale of its software solutions business to Syncsort for $700 million in cash, according to a press release.

In the third and fourth quarter, the company repaid term loans, secured a new term loan A and replaced its revolving credit facility.

Pitney Bowes is a Stamford, Conn.-based technology company that provides commerce solutions.

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