Allied Capital Finances Recapitalization of Nation's Top Frozen Pizza Manufacturer.Business Editors WASHINGTON--(BUSINESS WIRE)--Dec. 2, 2002 Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) today announced that it has invested $10.4 million of subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". in Frozen Specialties, Inc., a leading manufacturer of budget, private-label frozen pizza and appetizers for convenience stores and groceries nationwide. Swander Pace Capital was the equity sponsor in the transaction. "Frozen Specialties dominates its market niche and is led by an experienced management team. The company is well-positioned to take advantage of the growth of the frozen food industry, which has historically increased year after year," said William L. Walton, Allied Capital's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our investment in Frozen Specialties is an example of the traditional mezzanine transaction on which we have built our business." About Allied Capital Allied Capital is the nation's largest business development company and provides long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and equity investment capital primarily to support the expansion of private companies in a variety of industries. The company also participates in the real estate capital markets as an investor in non-investment grade commercial mortgage-backed securities. The company is headquartered in Washington, DC. For more information, please visit the web site at www.alliedcapital.com, call Allied Capital Investor Relations toll-free at (888) 818-5298, or e-mail us at ir@alliedcapital.com. Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in the company's periodic filings with the Securities and Exchange Commission. |
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