Nine Dragons Paper to buy back $118.6 mln notes

HONG KONG, July 9 (Reuters) - Nine Dragons Paper Holdings Ltd (2689.HK) on Thursday said it had offered to purchase for cash all of its outstanding 7.875 percent senior notes due 2013 worth $118.57 million.

Based on current ratings, the interest rate payable on the notes on the next due date of Oct 29 would be 9.875 percent, it said in a statement.

The offer on the notes, which are listed on the Singapore Exchange, will expire at midnight New York time on August 6, it added. For full statement, click: www.hkexnews.hk/listedco/li stconews/sehk/20090709/LTN20090709021.pdf. (Reporting by Nerilyn Tenorio; Editing by Jonathan Hopfner)