By Andrea Heisinger
New York, March 2 - Pitney Bowes Inc. priced $300 million of 6.25% 10-year unsecured notes Monday at Treasuries plus 337.5 basis points, market sources said.
The notes (A1/A/) priced at 99.821 to yield 6.274%. They have a make-whole call of Treasuries plus 50 bps.
The notes feature a change-of-control put of 101%.
Bookrunners were Banc of America Securities LLC and J.P. Morgan Securities Inc.
Proceeds will be used for general corporate purposes.
The mail processing equipment and integrated mail solutions company is based in Stamford, Conn.
| Issuer: | Pitney Bowes Inc.
|
| Issue: | Unsecured notes
|
| Amount: | $300 million
|
| Maturity: | March 15, 2019
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc.
|
| Coupon: | 6.25%
|
| Price: | 99.821
|
| Yield: | 6.274%
|
| Spread: | Treasuries plus 337.5 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Change-of-control put: | 101%
|
| Trade date: | March 2
|
| Settlement date: | March 5
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
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