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| Home : OPTI Canada Provides Update on Interest Payments Due June 15, 2011 |
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Jun 14
2011 |
OPTI Canada Provides Update on Interest Payments Due June 15, 2011 |
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CALGARY, ALBERTA--(Marketwire - June 15, 2011) - OPTI Canada Inc. (OPTI or the Company) (TSX:OPC) announced today that the Company will not make the scheduled payment of interest, totalling US$71 million in the aggregate, due on June 15, 2011, on its US$1 billion 8.25 percent Senior Secured Notes and US$750 million 7.785 percent Senior Secured Notes (collectively, the "Secured Notes"). The failure to pay the interest on the Secured Notes does not constitute an event of default at this time. The Indentures for the Secured Notes provide OPTI a 30-day cure period, ending July 15, 2011, to make the US$71 million interest payment. |
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| Source:http://www.marketwire.com/mw/release.do?id=1526820&sourceType=3 |
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