| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers P > Headlines for Pitney Bowes Inc. > News item |
Pitney Bowes extends early tender deadline in four offers for preferreds, cancels fifth offer
By Angela McDaniels
Tacoma, Wash., Oct. 13 - Pitney Bowes Inc. subsidiary Pitney Bowes International Holdings, Inc. extended the early tender date in the tender offers for its variable-term voting preferred stock to 5 p.m. ET on Oct. 15 from Oct. 14, according to a company news release.
In addition, the company canceled the tender offer for its series E preferreds.
The offers for the series A, series B, series C and series D preferreds remain ongoing.
The company is offering $100,000 per unit. The payment includes a $3,000 early tender payment for each unit tendered by the early tender date.
Holders will also receive accrued dividends up to but excluding the settlement date.
Each unit consists of 1,000 preferreds, and each preferred has a liquidation preference of $100.
The number of units outstanding is 700 for the series A preferreds, 650 for the series B preferreds, 650 for the series C preferreds and 1,000 for the series D preferreds.
The offers began on Sept. 30 and will expire at midnight ET on Oct. 28.
The company will use cash on hand and the proceeds from a financing to fund the offers.
The offers are subject to Pitney Bowes International obtaining the needed financing. They are not conditioned on any minimum number of preferreds being tendered.
Bank of America Merrill Lynch (888 292-0070 or 646 855-3401) and Deutsche Bank Securities Inc. (866 627-0391 or 212 250-2955) are the dealer managers, and Global Bondholder Services Corp. (866 470-3800 or 212 430-3774) is the information agent.
Pitney Bowes makes mail-processing equipment and is based in Stamford, Conn.
© 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.