Cone seeks recap for Mex.
January 20, 2003-- Home Textiles Today,
Cone Mills Corp. has cut a deal with WLR Recovery Fund II L.P., a private investment fund, to sell WLR up to $27 million in convertible notes, a move that will support a recapitalization of the company's balance sheet and allow the expansion of its Mexican denim operations. WLR now holds 50 percent of Cone's bank debt and a portion of its bonds.
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