Pitney Bowes extends credit facilities to 2031; Fitch initiates BB- rating

PITNEY BOWES INC /DE/

Amended RCF ($450M) and Term Loan A ($152M) extended to May 2031; size unchanged.
New covenants: Interest Coverage ≥2.00x, Secured Net Leverage ≤3.00x, Total Net Leverage stepping down to 4.00x.
Fitch initiated coverage with BB- rating and Stable Outlook; senior secured debt rated BB+.
Springing maturity provisions tied to existing senior notes remain in place.

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