GSI expands credit facility
GSI Commerce (Nasdaq: GSIC), a provider of e-commerce services, said it expanded its credit facility by $60 million to $150 million.
The deal included “renewed and increased commitments from its existing bank group as well as the addition of new bank group members,” it said.
The existing banks are PNC, Bank of America, TD Bank, Sovereign Bank, HSBC, and Morgan Stanley. The new lenders are Deutsche Bank, J.P. Morgan and UBS, the King of Prussia, Pa.
GSI said it could use the money for letters of credit, working capital and general corporate purposes, including possible acquisitions.
--Compiled by Wendy Geister
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