Aussino to issue convertible notes to institutional investor

Aussino will issue up to US$30 million (S$37.5 million) of convertible senior notes to a United States-based institutional investor.

The investor is a wholly-owned unit of international investment firm Crede Capital Group, which is headquartered in Los Angeles and has invested in more than 60 companies.

The funds raised will be used for the company's working capital and to finance future business acquisitions.