GTSI gets $135 million senior credit facility from Castle Pines

By Sara Rosenberg

New York, May 28 - GTSI Corp. closed on a new $135 million two-year senior credit facility, according to a news release.

Castle Pines Capital LLC led the deal, which was completed on May 27.

Amounts borrowed under the revolver portion of the facility are priced at Libor plus 300 basis points.

Security is the company's assets.

Proceeds will be used for inventory financing and working capital requirements.

The new deal replaces the company's existing asset-based revolver that had been scheduled to mature in June 2010, but is set to expire this month after providing 30-day notice.

GTSI is a Herndon, Va.-based enterprise IT infrastructure services provider to the government.

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