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Benzinga
Benzinga
Business
Akanksha Bakshi

Pitney Bowes Financial Inks Term Loan With Zion Delivery Service

Pitney Bowes Bank California PBI Christopher Johnson Long Beach Los Angeles County NYSE Orange County Pitney Bowes Inc
  • Pitney Bowes Inc's (NYSE:PBI) Pitney Bowes Bank signed a term loan and accompanying revolving line of credit with Zion Delivery Service, Inc (ZDS) of Long Beach, California.
  • ZDS specializes in Last-Mile Delivery support for large national and regional carriers in Los Angeles County, Orange County, and other markets across Southern California.
  • The credit facility from Pitney Bowes provides ZDS with the working capital, liquidity, and flexibility required to generate sustained growth.
  • "We are pleased to support ZDS through our deep expertise in the shipping and logistics industry. This deal embodies our strategy to continue to grow with companies like ZDS that are well poised in this rapidly expanding market segment," commented Christopher Johnson, SVP and President, Pitney Bowes Financial Services, and Board member of the Bank.
  • Price Action: PBI shares are trading higher by 1.29% at $5.11 on the last check Wednesday.
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