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Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item
Published on 11/28/2011 in the Prospect News Canadian Bonds Daily, Prospect News Distressed Debt Daily, Prospect News High Yield Daily and Prospect News Liability Management Daily.

OPTI Canada to redeem all $825 million of first-lien secured notes

By Tali David

Minneapolis, Nov. 28 - OPTI Canada Inc. will redeem all of its first-lien senior secured notes, according to a press release.

The company will redeem $525 million of its 9% notes due 2012 and $300 million of its 9.75% notes due 2013.

The notes will be repaid at 102 plus interest on Dec. 28.

This comes after OPTI Canada received all of the required regulatory approvals for the acquisition of OPTI by indirect wholly owned subsidiaries of Cnooc Ltd.

OPTI Canada Inc. is a Calgary, Alta.-based company that focuses on developing major oil-sands projects in Canada.


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