Pieridae announces C$206 million term loan; Aura sells $35 million

By Devika Patel

Knoxville, Tenn., Oct. 17 – The private placement market came to life on Thursday with two new deals announced.

Calgary, Alta.-based Pieridae Energy Ltd., which is focused on the development of integrated energy-related activities, executed a C$206 million 12% senior secured non-revolving term loan facility due Oct. 16, 2023.

San Francisco-based Aura, a financial technology company, settled a $35 million private placement of social bonds.

Pieridae taps market

Pieridae Energy secured C$206 million through a 12% senior secured non-revolving term loan facility due Oct. 16, 2023.

Third Eye Capital Corp. is the agent.

Additional interest of 3% per annum is payable quarterly in cash in kind.

Proceeds will be used toward the company’s acquisition of all of Shell Canada Energy’s midstream and upstream assets in the southern Alberta Foothills for C$190 million.

Additional funds for the acquisition were obtained through a C$12.8 million brokered private placement of subscription receipts and a C$600,000 non-brokered private placement of subscription receipts, both of which settled on Oct. 11.

Aura places $35 million

Aura completed a $35 million private placement of social bonds led by 400 Capital Management.

Proceeds will finance the origination of more than 21,000 affordable, small-dollar loans as part of Aura’s commitment to injecting capital into low-income communities across America.

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