Muzak Secures $109M In Exit Financing

Law360, New York (December 2, 2009, 3:20 PM EST) -- Muzak Holdings LLC announced Wednesday that it had received a commitment for $108.8 million in bankruptcy exit financing, helping clear one of the last major hurdles in the background music distributor's efforts to emerge from Chapter 11.

The commitment to provide a $108.8 million senior secured exit financing facility comes from a group that includes GE Capital, Restructuring Finance, Silver Point Finance LLC and MFC Global Investment Management, Muzak said in a statement.

The deal — subject to approval by the U.S. Bankruptcy Court for the...
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