PSS World Medical (PSSI) Prices $250 Million in 6.375% Senior Notes Due 2022
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PSS World Medical, Inc. (Nasdaq: PSSI) announced today the pricing of its private offering of $250 million aggregate principal amount of 6.375% senior notes due 2022. The notes will bear interest at a rate of 6.375% per annum and will be issued at a price of 100% of their principal amount. The sale of the notes is expected to close on February 24, 2012, subject to customary closing conditions.
The Company intends to use a portion of the net proceeds from the offering to repay borrowings under its new credit facility and 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.
The Company intends to use a portion of the net proceeds from the offering to repay borrowings under its new credit facility and 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.
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