By Andrea Heisinger
Omaha, Sept. 6 - Pitney Bowes Inc. priced an upsized $500 million of 10-year 5.75% medium-term notes on Thursday to yield 140 basis points more than Treasuries, a market source said.
The offering was originally $250 million, the source said.
The notes (A1/A+) have a price of 98.803 with a yield of 5.91%.
Bookrunners were Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.
The company is based in Stamford, Conn., and sells mail processing equipment.
| Issuer: | Pitney Bowes Inc.
|
| Issue: | Medium-term notes
|
| Amount: | $500 million, upsized from $250 million
|
| Maturity: | Sept. 15, 2017
|
| Bookrunners: | Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Coupon: | 5.75%
|
| Price: | 98.803
|
| Yield: | 5.91%
|
| Spread: | Treasuries plus 140 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | Sept. 6
|
| Settlement date: | Sept. 11
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
