Sino-Forest – Mandra Forestry Finance senior notes exchange

- $194.00 m

Entry date - Wednesday, 24 February 2010
Jurisdiction - China
Practice - Debt Market
Sino-Forest – Mandra Forestry Finance senior notes exchange

Firm - Aird Berlis LLP Client - Sino-Forest Lead Lawyers - Role - Counsel to issuer	Firm - Appleby Client - Sino-Forest Lead Lawyers - Role - Counsel to issuer	Firm - Davis Polk & Wardwell Client - Sino-Forest Lead Lawyers - Role - Counsel to issuer
Firm - Jones Day Client - Sino-Forest Lead Lawyers - Role - Counsel to bond holders	Firm - Linklaters Client - Sino-Forest Lead Lawyers - Role - Counsel to issuer

Deal summary

• This transaction is a two step private exchange, pursuant to private placements, by Sino-Forest Corporation of US$187m of 10.25% guaranteed senior notes due 2014, issued under an existing indenture, for US$194m 12% guaranteed senior notes due 2013 and 189,565 warrants issued by Mandra Forestry

• Davis Polk recently advised the underwriters of Sands China US$2.5bn IPO

• Linklaters launched the first listing of a Russian Company, Rusal, on the HKSE in this month

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