Pitney Bowes shops $400 million term loan at Libor plus 425-450 bps

By Sara Rosenberg

New York, March 8 – Pitney Bowes Inc. held a lender call at 10 a.m. ET on Monday to launch a $400 million seven-year term loan that is talked at Libor plus 425 basis points to 450 bps with a 0% Libor floor and an original issue discount of 99, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Proceeds will be used to refinance an existing term loan due 2025 that is priced at Libor plus 550 bps with a 0% Libor floor.

Pitney Bowes is a Stamford, Conn.-based technology company providing commerce solutions.

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