Simpson Thacher Represents OPTI Canada Inc. in $425 Million First Lien Senior Secured Notes Offering
11.20.09
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Simpson Thacher represented OPTI Canada Inc. ("OPTI") in connection with its Rule 144A/Regulation S offering of $425 million aggregate principal amount of 9% First Lien Senior Secured Notes due 2012. OPTI used the proceeds from the offering to repay its existing senior secured credit facility, to fund its oil sands project and for general corporate purposes.
OPTI is a Canadian corporation based in Calgary, Alberta. OPTI was established in 1999 to develop major integrated bitumen and heavy oil projects in Canada. The company's current major project is based in Fort McMurray in northern Alberta and spans more than 25,000 hectares of land.
The Simpson Thacher team for the transaction included Joe Kaufman, Estella Chen and Lauren Gee (Capital Markets); Jon Cantor and Jon Talansky (Tax); Marcela Robledo (Intellectual Property); Adeeb Fadil and Noreen Lavan (Environmental); and Jeanne Annarumma and Beth Understahl (Executive Compensation and Employee Benefits). Paralegal Mark Rapisarda also provided valuable assistance.