[Satellite TODAY 06-04-10] Citibank has increased its committed credit facility to Globecomm Systems from $50 million to $65 million and renewed the facility for a year, Globecomm announced June 3.
    The increased credit facility will be used to issue bid bonds and performance bonds relating to Globecomm projects and contracts worldwide, term loans for potential acquisitions and also supports the company’s working capital needs. 

    As of the date of amendment, Globecomm has $12.1 million in outstanding unpaid debt under the term loan line. The credit facility expires May 26, 2011.