Toronto, Ontario, Canada, 11 October 2010 -- /PRNewswire/ -- Sino-Forest Corporation (TSX: TRE) today announced it has commenced an offering of guaranteed senior notes due 2017 with an intended offering size of USD 500 million. The final size and other terms of the offering of notes, including the interest rate payable and the maturity date, will be determined after completion of marketing activities and is subject to prevailing market conditions.
The offering is being made on a private placement basis in Canada, the United States, and internationally pursuant to available exemptions, through a syndicate of initial purchasers. The company intends to use the aggregate net proceeds from the offering for general corporate purposes, including, but not limited to, the acquisition and replanting of tree plantations.
No assurance can be given that the company will not terminate its marketing activities or alter the terms of the offering due to market conditions or otherwise.
Sino-Forest is a leading, commercial forest plantation operator in China. Its principal businesses include the ownership and management of forest plantation trees and sales of standing timber, wood logs, and complementary manufacturing of downstream engineered-wood products. Sino-Forest also holds a majority interest in Omnicorp Limited (HK:0094), a Hong Kong listed investment holding company with hardwood concessions and harvesting rights in Suriname, South America. Sino-Forest's common shares have traded on the Toronto Stock Exchange under the symbol TRE since 1995. Learn more at www.sinoforest.com.