Shearman & Sterling represented Credit Suisse Securities (USA) LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as the initial purchasers in connection with PSS World Medical, Inc.’s (PSS) private placement of $250 million of its 6.375% Senior Notes due 2022.

The proceeds from the offering will be used by PSS to repay borrowings under its revolving credit facility, to partially pre-fund the repayment of its 3.125% convertible notes due 2014, and for general corporate purposes, including potential repurchases of common stock and acquisitions.

PSS is based in Florida and markets and distributes medical products and supplies, diagnostic equipment, healthcare information technology and pharmaceutical products to physicians, elder care providers and alternate-site healthcare providers throughout the United States.

The following Shearman & Sterling team advised on this transaction: partners Michael Benjamin (New York-Capital Markets) and Craig Gibian (Washington, DC-Tax); counsel Jeffrey L. Salinger (New York-Real Estate/Environmental); and associates Thad Pitney (New York-Capital Markets), Jennifer D. Morton (New York-Capital Markets), Jennifer Stadler (New York-Capital Markets), Mary Jo Lang (Washington, DC-Tax) and Laura Mulry (New York-Real Estate).