;
Home / Knowledge / News / Information Technology / GSI enters into $75 mn secured credit facility
GSI enters into $75 mn secured credit facility
16
Jan '08
GSI Commerce Inc, a leading provider of e-commerce solutions, announced that it has obtained a $75 million revolving secured line of credit from a bank group led by PNC Capital Markets, the investment banking arm of PNC Bank.

The five-year, revolving secured line of credit is available to the company for letters of credit, working capital and general corporate purposes, including possible acquisitions. In addition to PNC, banks participating in the facility include Bank of America (syndication agent), HSBC Bank USA and Sovereign Bancorp.

“This facility gives GSI additional flexibility to execute our strategy. We are pleased to have the support from a strong group of banks as we pursue our growth plans,” said Michael R. Conn, CFO and executive vice president of finance for GSI.

GSI Commerce Inc


Must ReadView All

Lotte to build $3.5-bn petrochemical plant in Indonesia

Textiles | On 14th Dec 2018

Lotte to build $3.5-bn petrochemical plant in Indonesia

PT Lotte Chemical Indonesia (LCI), a subsidiary of Malaysian company...

Jordan PM lays foundation stone for Chinese textile unit

Textiles | On 14th Dec 2018

Jordan PM lays foundation stone for Chinese textile unit

Jordanian Prime Minister Omar Razzaz recently laid the foundation...

Courtesy: American Eagle Outfitters

Apparel/Garments | On 14th Dec 2018

American Eagle Q3 revenue rises 5% to $1.004 billion

The revenue of American Eagle Outfitters for the third quarter of...

Interviews View All

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search