OPTI Canada to Redeem First Lien Notes
28 November 2011 - 3:00PM
Marketwired
OPTI Canada Inc. (TSX VENTURE:OPC) ("OPTI" or the "Company")
announced today that it will redeem on December 28, 2011 all of its
outstanding first lien senior secured notes (the "First Lien
Notes") at a price equal to 102% of the principal amount of the
First Lien Notes plus accrued and unpaid interest to the date of
redemption, pursuant to the indentures governing the First Lien
Notes.
The First Lien Notes consist of U.S.$525,000,000 principal
amount of 9% First Lien Notes due 2012 and U.S.$300,000,000
principal amount of 9.75% First Lien Notes due 2013.
FORWARD-LOOKING INFORMATION
Certain statements contained herein are forward-looking
statements, including, but not limited to, statements relating to:
the completion and the anticipated timing of the redemption of the
First Lien Notes. Readers are cautioned not to place undue reliance
on forward-looking information because it is possible that
expectations, predictions, forecasts, projections and other forms
of forward-looking information will not be achieved by OPTI. By its
nature, forward-looking information involves numerous assumptions,
inherent risks and uncertainties. Actual events or results may
differ materially from those projected in the forward-looking
information. Although OPTI believes that the expectations reflected
in such forward-looking statements are reasonable, OPTI can give no
assurance that such expectations will prove to be correct.
Forward-looking statements are based on current expectations,
estimates and projections that involve a number of risks and
uncertainties which could cause actual results to differ materially
from those anticipated by OPTI and described in the forward-looking
statements or information. The forward-looking statements are based
on a number of assumptions that may prove to be incorrect. In
addition to other assumptions identified herein. Other specific
assumptions and key risks and uncertainties are described elsewhere
in this document and in OPTI's other filings with Canadian
securities authorities. Forward-looking information in this news
release is provided for the purpose of providing information about
management's current expectations regarding the future. Readers are
cautioned that reliance on such information may not be appropriate
for other purposes, such as making investment decisions.
Readers should be aware that the list of assumptions, risks and
uncertainties set forth herein are not exhaustive. Readers should
refer to OPTI's current Annual Information Form, filed on SEDAR and
EDGAR and available at www.sedar.com and http://edgar.sec.gov for a
detailed discussion of these assumptions, risks and uncertainties.
The forward-looking statements or information contained in this
document are made as of the date hereof and OPTI undertakes no
obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable laws
or regulatory policies. Additional information relating to our
Company can be found at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: OPTI Canada Inc. Joe Bradford VP Joint Ventures (403)
249-9425ir@opticanada.com OPTI Canada Inc. Suite 1600, 555 - 4th
Avenue SW Calgary, Canada T2P 3E7
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