Astrea VI PE bond: the merits of a de-risking structure
This ensures that investors in the lowest risk Class A-1 bonds will be paid their interest and principal
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ASTREA VI, the latest issuance of private equity-backed bonds by Azalea Asset Management, carries a lower interest rate than earlier issuances. But the retail tranche with an annual interest rate of 3 per cent is still set to be very well subscribed.
The offer closes on March 16 at noon, and trading on the Singapore Exchange begins on March 19. The entire issue size is US$643 million, of which S$250 million is available for public application.
Azalea's provenance - it is an indirect subsidiary of Temasek Holdings - likely plays a part in enhancing investor confidence.
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