Sino-Forest in Mandra restructuring

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    Sino-Forest Corporation, a Canada-based operator of tree plantations in China, has completed a complex, multi-jurisdictional transaction which resulted…

    Sino-Forest Corporation, a Canada-based operator of tree plantations in China, has completed a complex, multi-jurisdictional transaction which resulted in the out-of-court restructuring of Mandra Forestry, a PRC commercial tree plantation operator.

    The deal involved a privately-negotiated exchange of new senior notes for a majority in aggregate principal amount of Mandra Forestry Finance's outstanding high yield notes which had been in payment default for an extended period of time. Sino-Forest made the exchange concurrently with its acquisition of 100% of Mandra's equity.

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