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Business News (more headlines) 03-29-2014

Crystal Financial And Crystal Financial SBIC Provide $20.0 Million Facility For Alfred Music Publishing Co., Inc.

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Crystal Financial LLC, an independent commercial finance company, and Crystal Financial SBIC LP announced the closing of a $20.0 million Senior Term Loan for Alfred Music Publishing Co., Inc. ("Alfred Music"). Founded in 1922 and headquartered in Los Angeles, the Company is the world's largest publisher of educational music products with over 184,000 print and digital products sold at over 10,000 retailers worldwide.

Alfred Music produces educational, reference music, pop, and performance materials for teachers, students, professionals, and hobbyist musicians across all types of instruments, music styles, and difficulty levels.

Proceeds from the facility were used to refinance existing debt and to provide incremental liquidity for growth. The loan matures in March 2018.

"Alfred Music continues to be the gold standard in music education, helping the world experience the joy of making music, and we are thrilled to be on this journey together," noted Stephen Krawchuk, Crystal's Managing Director.

"We are pleased to be working with Crystal as our financing partner and we are impressed with their ability to understand our business, its needs, and opportunities. Crystal was both creative and responsive and delivered on the structure they proposed," said Ron Manus, Alfred Music's CEO.

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