Alliance Entertainment Corp. today announced that it has extended the term of its Revolving Credit Facility with GE Commercial Finance to 19 August 2006. Under the terms of the agreement a maximum amount of $135 m will be made available to Alliance Entertainment under its asset-based lending facility.
Charles Chiodo, Senior Vice President of GE Commercial Finance, said: "Alliance Entertainment is a valued customer of ours. We are pleased to be able to extend this relationship and support the company's growth plans."
Eric Weisman, President and CEO of Alliance, stated: "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."
