Pitney Bowes Reduces Debt by $75 Million

Pitney Bowes ( (PBI) ) just unveiled an announcement.

Pitney Bowes has announced the repayment of an additional $75 million of its senior secured notes issued by Oaktree Capital Management, reducing the outstanding balance to $172.25 million. This move is part of the company’s strategic initiative to deleverage its balance sheet, funded by cash on hand, and indicates a continued effort to improve its financial stability.

More about Pitney Bowes

Pitney Bowes Inc. operates in the technology and business services industry, providing solutions in e-commerce, shipping, mailing, and financial services, with a focus on simplifying and streamlining commerce for businesses.

YTD Price Performance: 68.63%

Average Trading Volume: 1,687,911

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: $1.3B

For detailed information about PBI stock, go to TipRanks’ Stock Analysis page.