Pitney Bowes Inc. announced on January 23, 2025, that it is paying off the remaining balance of approximately $97 million in senior secured notes issued to Oaktree Capital Management, L.P. This repayment, funded by cash on hand, is a key part of the company’s strategic initiative to deleverage its balance sheet.
Retiring the 2028 Notes positions Pitney Bowes to benefit from increased capital allocation flexibility as it continues to evaluate value-enhancing actions. This move reduces the company's high-cost debt and improves its financial structure.
The company also announced expectations to report full year 2024 revenue within its guidance range and Adjusted EBIT above its guidance range. This anticipated outperformance is attributed to better-than-expected business performance and faster realization of cost cuts and efficiency measures.
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