Simpson Thacher Represents OPTI Canada Inc. in US$750 Million Senior Secured Notes Offering
07.16.07
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The Firm represented OPTI Canada Inc. (“OPTI”) in connection with its issuance of US$750 million aggregate principal amount of 7.875% senior secured notes due 2014. The Firm previously represented OPTI in connection with its US$1 billion offering of senior secured notes in December 2006. 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.
The Simpson Thacher team included Joe Kaufman, Scott Fisher and Carol Daniel (Capital Markets), Jonathan Cantor and Jonathan Talansky (Tax), Adeeb Fadil and Noreen Lavan (Environmental), Mindy Lok (IP) and Jeanne Annarumma and Beth Understahl (ERISA).