Frontera Copper Completes $185M Restructuring

On June 14, 2010, Frontera Copper Corporation completed a restructuring under the Canada Business Corporations Act (the “CBCA”), under which (i) all of Frontera's 10 per cent Senior Unsecured Notes due June 15, 2010 and its 10 per cent Senior Unsecured Notes due March 15, 2011 (the “Unsecured Notes”) were restructured and exchanged for new guaranteed Senior Secured Notes pursuant to the terms of a revised indenture and a CBCA Plan of Arrangement and (ii) certain outstanding defaults were cured under Frontera's senior secured credit facility with its Mexican commercial lender, Banco Azteca.

Frontera is a Canadian mining and exploration company whose principal activity is the production, through its Mexican subsidiaries, of copper cathode from the Piedras Verdes run-of-mine, heap leach, copper operations in Sonora, Mexico.

Frontera was represented in Canada by Goodmans LLP with a team consisting of Robert Chadwick, Brendan O'Neill, Jeffrey Citron, David Nadler, Tim Heeney, Daniel Jeon, Gail Jaffe and John Uhren (corporate/securities/banking/finance); Tom Friedland, Jason Wadden and Peter Kolla (litigation) and Mitchell Sherman and Mark Biderman (tax); and by Lang Michener LLP with a team consisting of Bernhard Zinkhofer (corporate) and Peter Botz (tax); and in Mexico by Cervantes Sainz with a team that included Diego Martínez and Gabriela Fernández.

The ad hoc committee of Frontera's noteholders was represented in Canada by Aird & Berlis LLP with a team that included Steven Graff and Aaron Collins (restructuring); Sam Billard (finance) and Barbara Worndl (tax); and in Mexico by Heather & Heather with a team that included Thomas Heather and Yanina Navarro. The indenture trustee was represented by BNY Trust Company of Canada.


Aaron T. Collins David J. Nadler Steven L. Graff John Uhren Brendan O'Neill Peter Botz Gail Jaffe Samuel C. Billard Robert J. Chadwick Tim Heeney Daniel S. Jeon Mitchell J. Sherman Mark Biderman Bernhard J. Zinkhofer Jeffrey A. Citron Barbara J. Worndl Jason Wadden Thomas A. Friedland