, Conn.--(BUSINESS WIRE)-- Pitney Bowes Inc. (NYSE:PBI) today announced notice of its election to redeem $400 million of its bonds which are scheduled to mature in October 2012. The bonds will be repurchased substantially with cash on the balance sheet and operating cash flow. At the end of the first quarter 2012, the company had about $950 million in cash and short-term investments on its balance sheet. Read more!