Portland General eyes $200 million; Thor, Alphatec announce offerings

By Devika Patel

Knoxville, Tenn., April 15 – Monday brought some activity to the private placement markets, with three new deals announced.

Portland, Ore.-based energy provider Portland General Electric Co. priced $200 million of 4.3% first mortgage bonds due 2049.

Vancouver, B.C.-based Thor Explorations Ltd., a gold explorer, arranged a $54 million senior secured credit facility with Africa Finance Corp., which will also receive 17,602,941 ordinary shares.

Also, the investor will receive a $9 million gold stream prepayment and buy 99.75 million of the company’s ordinary shares for C$19.95 million, or $15 million.

The loan bears interest at Libor plus 900 basis points.

Carlsbad, Calif.-based Alphatec Holdings, Inc., a medical device company, completed a $30 million financing facility with warrants through lender Squadron Medical Finance Solutions, LLC.

The loan is due in November 2023 and bears interest at Libor plus 800 bps, with a 10% floor and a 13% ceiling.

Squadron also received warrants for 4.8 million common shares, each exercisable at $2.17.

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