Pitney Bowes Inc. (NYSE: PBI) has repriced its $585 million Term Loan B, reducing the applicable interest rate margin by 75 basis points. The transaction closed on September 29, 2026.

The repricing lowers the margin over the Secured Overnight Financing Rate (SOFR) from 375 basis points to 300 basis points. All other terms of the facility remain unchanged, and the March 2032 maturity date is unaffected. Based on the current outstanding principal balance, the change is expected to reduce annual interest expense by approximately $4 million.

The repricing follows S&P Global Ratings' upgrade of Pitney Bowes' issuer credit rating to 'BB-' from 'B+', and comes after the company completed a tender offer for its 6.70% Notes due 2043 and 5.250% Medium-Term Notes due 2037, which retired more than $46 million of debt at a discount to par.

Chief Financial Officer Paul Evans stated that over the past year the company has upsized and extended its revolving credit facility and Term Loan A, fully repaid its 2027 Notes, and retired over $126 million of debt through two tender offers at approximately 86 cents on the dollar, capturing roughly $18 million of value for shareholders. He said the cumulative actions reduce annualized interest expense by approximately $13 million.

Additional details will be filed in a Form 8-K with the Securities and Exchange Commission.