AWL completes note issue

LOCAL wine producer Australian Wine Holdings has raised more than $5.4 million from existing shareholders and underwriters in a convertible note issue. Proceeds from the issue will go towards the repayment of shareholder loans, reduction of bank debt and to assist with funding of the 2005 vintage, the company said in an announcement to the Australian Stock Exchange. The company raised $1.94 million over March and April last year.

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