Allied Capital Provides Financing for Clif Bar Inc.Business Editors WASHINGTON--(BUSINESS WIRE)--Aug. 6, 2002 Allied Capital (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) today announced it has invested $29 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 Clif Bar Inc., a leading maker of all natural energy and nutrition foods. "Clif Bar is an attractive investment opportunity for Allied Capital because it is a leader in its niche industry," 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. . "Clif Bar has established a strong distribution network in specialty, natural food, and grocery stores and has a national reputation for quality and integrity." Within the next few weeks, Allied Capital anticipates sharing $4 million of this $29 million financing with a co-investor, which would reduce Allied Capital's investment to $25 million. About Clif Bar, Inc. Based in Berkeley, CA, Clif Bar Inc. is a leading maker of all natural energy and nutrition foods. The company's products include the CLIF(R) BAR, the energy bar providing nutrition for sustained energy; the CLIF(R) BAR ICE SERIES(TM), the energy bar with real chocolate, icing, caffeine and bold new flavors; LUNA Luna Any of a series of unmanned Soviet lunar probes, launched between 1959 and 1976, responsible for various lunar “firsts.” Luna 2 (1959) was the first spacecraft to strike the Moon; Luna 3 (1959) was the first to circle the Moon and took the first (TM), the whole nutrition bar for women(TM); Clif SHOT(R), the natural energy gel(TM) for endurance activities; and the new MOJO Bar(TM), the first natural snackbar. About Allied Capital Allied Capital is the nation's largest business development company, and provides long-term investment capital to support the expansion of growing middle-market companies. The company provides mezzanine debt and equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. , and also participates in the real estate capital markets as an investor in 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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