---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-037055"
form_type: "8-K"
ticker: "PBI"
cik: "0000078814"
company_name: "PITNEY BOWES INC /DE/"
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:33:40.537813+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Pitney Bowes issues $275M senior secured notes due 2028 to redeem 2024 notes

## Summary
- $275M senior secured notes issued; SOFR + 6.90% interest; mature March 19, 2028.
- Proceeds mainly to redeem $300M 4.625% notes due 2024 on August 30, 2023.
- Noteholders include Oaktree Capital Management; mandatory 1% annual repurchase.
- Sixth Amendment to credit agreement aligns covenants and collateral with new notes.
- Remaining proceeds to repay term loans and fees; notes secured by substantially all assets.

## SEC filing metadata
- accession: 0001140361-23-037055
- form_type: 8-K
- ticker: PBI
- cik: 0000078814
- company_name: PITNEY BOWES INC /DE/
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/78814/000114036123037055/0001140361-23-037055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/78814/000114036123037055/brhc20056686_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-037055
- JSON: https://secwatch.observer/filing/0001140361-23-037055.json
- Plain text: https://secwatch.observer/filing/0001140361-23-037055.txt

## Key facts
- Debt Financings
  PITNEY BOWES INC /DE/ incurred senior notes of $275,000,000 with funds managed by Oaktree Capital Management, L.P. at term SOFR rate, plus a margin of 6.90% maturing March 19, 2028.
  - Instrument: senior notes
  - Principal: $275,000,000
  - Counterparty: funds managed by Oaktree Capital Management, L.P.
  - Rate: term SOFR rate, plus a margin of 6.90%
  - Maturity: March 19, 2028
  - Event: incurrence
  source text: The Note Purchase Agreement provides for the private issuance of senior secured notes in an aggregate principal amount of $275,000,000 (the “Senior Secured Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/78814/000114036123037055/0001140361-23-037055-index.htm
- Material Agreements
  PITNEY BOWES INC /DE/ entered into Note Purchase Agreement with the noteholders party thereto and Alter Domus (US) LLC, as noteholder representative valued at aggregate principal amount of $275,000,000 (effective 2023-07-31).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: the noteholders party thereto and Alter Domus (US) LLC, as noteholder representative
  - Value: aggregate principal amount of $275,000,000
  - Effective: 2023-07-31
  source text: On July 31, 2023, Pitney Bowes Inc. (the “Company”) entered into a Note Purchase Agreement (the “Note Purchase Agreement”) by and among the Company, as issuer, the noteholders party thereto and Alter Domus (US) LLC, as noteholder representative. The noteholders include funds managed by Oaktree Capital Management, L.P. The Note Purchase Agreement provides for the private issuance of senior secured notes in an aggregate principal amount of $275,000,000 (the “Senior Secured Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/78814/000114036123037055/0001140361-23-037055-index.htm
- Material Agreements
  PITNEY BOWES INC /DE/ entered into Sixth Amendment with the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent (effective 2023-07-31).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent
  - Effective: 2023-07-31
  source text: On July 31, 2023, the Company entered into a Sixth Amendment (the “Amendment”) to the Credit Agreement, dated as of November 1, 2019 (as previously amended, the “Existing Credit Agreement”), by and among the Company, the subsidiaries of the Company party thereto, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/78814/000114036123037055/0001140361-23-037055-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.