June 4, 2010 (FinancialWire) — Globecomm Systems Inc. (NASDAQ: GCOM), a provider of satellite-based communications infrastructure solutions and services, said that Citibank, N.A. (NYSE: C) has increased the company’s committed credit facility from $50 million to $65 million and renewed the facility for one year.

The credit facility accommodates documentary and standby letters of credit, term loans, foreign exchange transactions, and also includes a revolving credit facility.

Globecomm said that increase in the term loan portion of the facility from $25 million to $40 million, in particular, will accommodate the company’s continued growth. The credit facility will be used to issue bid bonds and performance bonds relating to projects and contracts worldwide, term loans for potential acquisitions, and also supports the company’s working capital needs.

As of the date of amendment, there was $12.1 million outstanding and unpaid under the term loan line. The facility will be available until May 26.

New York-based Globecomm Systems provides satellite-based communication products, services and solutions by leveraging its core satellite ground segment systems and network capabilities, with its satellite communication services capabilities.

The products and services Globecomm offers include pre-engineered systems, systems design and integration services, managed network services and life cycle support services. Globecomm's customers include communications service providers, commercial enterprises, broadcast and other media and content providers and government and government-related entities.

The firm maintains offices in Washington, DC, Maryland, New Jersey, the Netherlands, South Africa, Hong Kong, Germany, Singapore, the United Arab Emirates and Afghanistan.

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