FORT MILL,Muzak, a provider of music programming for businesses, has rasied $35 million in financing from GE Commercial Finance Global Media & Communications.
The company said the new funds “supplements: a secured debt facility and that some of the money will be used to pay off 13 percent notes due in 2010.
The deal closed last month,
“This financing will allow us to achieve a significant reduction in our annual interest expense – tangible evidence of GE’s ongoing commitment to our company,” said Stephen Villa, Muzak chief operating and financial officer.
