Aussino boosts working capital
Staff Staff -- Home Textiles Today, November 7, 2013
New York - Home textiles manufacturer Aussino, which also has retail operations in its home country of China, plans to issue convertible senior notes of up to $30 million to Crede CG III Ltd.
The investor is a wholly-owned subsidiary of Crede Capital Group LLC, a U.S.-based institutional investor that focuses on companies in the life sciences, healthcare, energy, natural resources, media, social media, lifestyle, technology and special situations sectors.
In a statement announcing the conditional agreement between the parties, Aussino said it will use the funding for working capital needs as well as to pursue business acquisitions.
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