Simpson Thacher Represents OPTI Canada Inc. in US$1 Billion Senior Secured Notes Offering and Related Credit Facilities
01.22.07
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The Firm represented OPTI Canada Inc. (“OPTI”) in connection with its offering of US$1 billion aggregate principal amount of 8.25% senior secured notes due 2014 and its entry into a US$450 million secured term loan facility and a CDN$500 million secured revolving credit facility. OPTI, an Alberta-based oil sands development company, expects to yield approximately 57,700 barrels per day of premium sweet crude oil by extracting bitumen from oil sands reservoirs without removing the sand itself through the injection of steam.
Credit Suisse and RBC Capital Markets acted as joint book-running lead managers of the notes offering.
The Simpson Thacher team included Joe Kaufman, Kirsten Davis, Scott Fisher and Bill Freiberg (Capital Markets), David Lieberman and Anthony Vernace (Credit), Jonathan Cantor and Shari Silverman (Tax), Adeeb Fadil and Noreen Lavan (Environmental), Esther Kim (IP) and Jeanne Annarumma and Beth Understahl (ERISA). Paralegals Dan Janow and Anne Dana also provided valuable assistance to the deal team.