secwatch.observer — SEC 8-K summary
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Issuer:     PITNEY BOWES INC /DE/ (PBI)
CIK:        0000078814
Form:       8-K
Filed at:   2023-07-31T23:59:59+00:00
Accession:  0001140361-23-037055
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/78814/000114036123037055/0001140361-23-037055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/78814/000114036123037055/brhc20056686_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-037055

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