GSI Group Inc. Announces Refinancing of Debt

GSI Group Inc.

announced today the refinancing of all of its outstanding 12.25% Senior Secured PIK Election Notes due 2014 through the proceeds from a new $80 million senior secured credit agreement, with Bank of America, N.A., as Administrative Agent, Silicon Valley Bank, as Syndication Agent, Merrill Lynch, Pierce, Fenner & Smith Incorporated, as Sole Lead Arranger and Sole Book Manager, and HSBC.