Pitney Bowes redeems remaining $96.6M Oaktree notes, expects FY2024 Adjusted EBIT above guidance

PITNEY BOWES INC /DE/

Redeemed remaining $96.6M principal of 2028 Oaktree notes with $4.8M premium, funded by cash on hand.
Expects FY2024 revenue within guidance range and Adjusted EBIT above prior guidance.
Plans to launch up to $615M term loan B due 2032 and new $265M revolver + $160M term loan A (three-year).
CEO Rosenzweig cites stronger balance sheet and faster cost cuts for outperformance.
Q4/FY2024 earnings call scheduled for Feb 11, 2025 after market close.

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