Alliance Gets Room To Move5 Feb, 2003 By: Hive News
Alliance Entertainment Corp. has extended the term of its revolving credit facility with GE Commercial Finance through Aug. 19, 2006, the company announced today.
Under the terms of the agreement a maximum amount of $135 million will be made available to Alliance Entertainment under its asset-based lending facility.
"We are excited to continue our relationship with GE Commercial Finance which has shared in the success of Alliance Entertainment over the past four years. With their support, our net sales have grown from approximately $320 million in 1998 to $808 million in 2002. Through our financing with GE, we look forward to pursuing opportunities that will continue the growth of the company," Alliance president and CEO Eric Weisman said.
"Alliance Entertainment is a valued customer of ours,” GE Commercial Finance SVP Charles Chiodo, said. “We are pleased to be able to extend this relationship and support the company's growth plans."