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Pitney Bowes ( (PBI) ) has issued an update.
Pitney Bowes announced the early redemption of $96.6 million in senior secured notes due in 2028, originally issued to Oaktree Capital Management. This move is part of the company’s strategy to deleverage and increase financial flexibility. Additionally, Pitney Bowes plans to syndicate a new senior secured term loan worth up to $615 million to extend maturity and refinance existing facilities. The company anticipates its 2024 financial performance will exceed prior adjusted EBIT guidance due to improved business performance and cost reductions.
More about Pitney Bowes
Pitney Bowes is a technology-driven company that offers SaaS shipping solutions, mailing innovation, and financial services worldwide, serving a diverse clientele that includes over 90 percent of the Fortune 500. It provides tools that simplify mailing and parcel delivery for small, large enterprises, and government entities.
YTD Price Performance: 2.91%
Average Trading Volume: 1,897,346
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $1.35B
See more insights into PBI stock on TipRanks’ Stock Analysis page.
