The 1.5% convertible senior notes are due 2030

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Pitney Bowes Inc. of $230 million aggregate principal amount of its 1.50% convertible senior notes due 2030, which included $30 million principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into in connection with the offering.

Pitney Bowes is a technology-driven products and services company that provides SaaS shipping solutions, mailing innovation, presort mailing services with a nationwide footprint across the United States and financial services to clients around the world – including more than 90 percent of the Fortune 500. Small businesses to large enterprises, and government entities rely on Pitney Bowes to reduce the complexity, increase the security and eliminate the potential for fraud in the sending of mail and parcels.

The Davis Polk capital markets team included partner Derek Dostal and associates Lik Hang (Lincoln) Jim and Jean Koo. The equity derivatives team included partners Mark J. DiFiore and Mark M. Mendez, counsel Gregory E. Marchesini, Justin Michael and M. Faisal Baloch and associates Ji Hwan Kim and Melissa X. Estrada. All members of the Davis Polk team are based in the New York office.

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