OPTI Canada to pay down revolver borrowings with senior notes proceeds

By Sara Rosenberg

New York, Aug. 11 - OPTI Canada Inc. will repay outstanding amounts under its revolving credit facility using proceeds from the sale of $400 million first-lien senior secured notes, according to a news release.

Remaining proceeds will be used for general corporate purposes.

Completion of these transactions is anticipated prior to the end of August.

OPTI Canada is a Calgary, Alta.-based company focused on developing oil sands projects.

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