Astrea VII Raises ~$755.75mn via PE Backed Issuance
The Class A-1 notes are rated A+/A+ (S&P/Fitch), while the Class A-2 notes are rated A by Fitch and the Class B notes at BBB+ by Fitch. The bonds have a 100bp step-up if the call is not exercised. The Class A-1 notes are split between a S$246mn institutional...
Azalea Launches Astrea 7 PE-backed Bonds at Indicative $755mn Size
Temasek’s indirect subsidiary Azalea has launched an Astrea 7 bond backed by 38 Private Equity (PE) funds. The size of the transaction is about $755mn or S$1.05bn, ~39.6% of its underlying PE portfolio valued at $1.9bn. The issuance is expected to have three...
Astrea VI Retail Tranche Bond Issue 3.1x Covered
The retail tranche of the Astrea VI bond issuance, Class A-1 with a coupon of 3% and a tenor of 10Y with a mandatory call after 5Y met with strong investor demand with orders exceeding S$784mn ($585mn), 3.1x issue size of S$250mn ($186mn). The issuance was launched on...
