Form 8-K - Current report

PITNEY BOWES INC /DE/ false 0000078814 0000078814 2024-12-20 2024-12-20 0000078814 us-gaap:CommonStockMember 2024-12-20 2024-12-20 0000078814 us-gaap:DeferrableNotesMember 2024-12-20 2024-12-20

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

December 20, 2024

Date of Report (Date of earliest event reported)

 

 

Pitney Bowes Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware		1-3579		06-0495050
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification Number)

3001 Summer Street

Stamford, Connecticut, 06926

(Address of Principal Executive Offices) (Zip Code)

[phone]

(Registrant’s Telephone Number, Including Area Code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $1 par value per share		PBI		New York Stock Exchange
6.70% Notes due 2043		PBI.PRB		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

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Item 7.01

Regulation FD Disclosure.

Pitney Bowes Inc. (the “Company”) today announced it is repaying an additional $75 million of the $275 million in senior secured notes issued by Oaktree Capital Management, L.P. (the “Oaktree Notes”) on December 20, 2024. Prior to the repayment, the balance of the Oaktree Notes was $172.25 million. This repayment follows the repayment of $100 million previously announced on November 19, 2024, and is part of the Company’s previously announced strategic initiative to deleverage its balance sheet. The repayment was funded by cash on hand. The Company anticipates having additional updates in the near-term on our plans to retire the remainder of the Oaktree 2028 Notes.

 

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Pitney Bowes Inc.
By:		/s/ Lauren Freeman-Bosworth
Name:		Lauren Freeman-Bosworth
Title:		Executive Vice President, General Counsel and Corporate Secretary

Date: December 20, 2024

 

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Document and Entity Information	Dec. 20, 2024
Document And Entity Information [Line Items]
Entity Registrant Name	PITNEY BOWES INC /DE/
Amendment Flag	false
Entity Central Index Key	0000078814
Document Type	8-K
Document Period End Date	Dec. 20, 2024
Entity Incorporation State Country Code	DE
Entity File Number	1-3579
Entity Tax Identification Number	06-0495050
Entity Address, Address Line One	3001 Summer Street
Entity Address, City or Town	Stamford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06926
City Area Code	(203)
Local Phone Number	356-5000
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common Stock, $1 par value per share
Trading Symbol	PBI
Security Exchange Name	NYSE
Deferrable Notes [Member]
Document And Entity Information [Line Items]
Security 12b Title	6.70% Notes due 2043
Trading Symbol	PBI.PRB
Security Exchange Name	NYSE

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