Sino-Forest Corporation, a commercial forest plantation operator in China, recently announced that it will repay the outstanding balance of its 9.125% Guaranteed Senior Notes due 2011 (the "2011 Notes"), plus accrued interest, at maturity on August 17, 2011. The 2011 Notes are listed on the Singapore Exchange Securities Trading Limited (the "SGX-ST").
Sino-Forest has deposited the principal amount of the 2011 Notes, being US$87,670,000, together with accrued interest, with Citibank, N.A., the paying agent under the Indenture governing the 2011 Notes. Following the repayment, the 2011 Notes will be cancelled and de-listed from the SGX-ST. Sino-Forest Chairman & CEO Allen Chan said, "We would like to take this opportunity to thank our bondholders for their long-term support of Sino-Forest."
