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| Home : OPTI Canada Announces Proposed Financing Plan and Project Update |
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Aug 11
2010 |
OPTI Canada Announces Proposed Financing Plan and Project Update |
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CALGARY, ALBERTA--(Marketwire - Aug. 11, 2010) - OPTI Canada Inc. (TSX:OPC) ("OPTI" or the "Company") announced today that it intends to offer by way of private placement US$100 million of First Lien Senior Secured Notes due 2012 (the "new 2012 Notes") and US$300 million First Lien Senior Secured Notes due 2013. The new 2012 Notes are being offered as additional notes under an indenture pursuant to which OPTI issued US$425 million aggregate principal amount of 9% First Lien Senior Secured Notes, due 2012, on November 20, 2009. The purpose of the private offerings is to maintain sufficient liquidity through the ramp-up period of the Long Lake Project and to allow the Company to continue with its previously announced review of strategic alternatives. The net proceeds will be used to repay outstanding amounts under our revolving credit facility and for general corporate purposes. |
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| Source:http://www.marketwire.com/mw/release.do?id=1303039&sourceType=3 |
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