Advanced Theory & Practice of Bonds

Recognized under IBF-FTS | 7-8 June 2022 | 12 CPD Hours

Comprehensive 2-day course on bonds designed for private bankers, wealth managers and advisors.

Astrea VI, backed by Temasek’s Azalea Asset Management, is planning to launch new dollar and Singapore dollar bonds with investor calls starting March 1. As per a filing with the MAS, the planned issuance will include a S$375mn ($282mn) Class A-1 tranche, comprising of a S$250mn ($188mn) public offering and a S$125mn ($94mn) placement to institutional investors and HNIs, as per IFR. Further, the company also plans to issue a $228mn Class A-2 tranche and $130mn Class B tranche, also for institutional investors and HNIs. Similar to earlier issuances (Astrea III, IV, V), the bonds will be backed by private equity funds. IFR reported that the Class A-1 and Class A-2 notes will have a call at the end of 5Y and a final maturity of 10Y, while the Class B bonds will have a fixed tenor of 10Y. The call in Class A-1 notes is mandatory if a sufficient cash buffer has been built up to redeem all Class A-1 notes and there are no outstanding credit facility loans. If not called in 5Y, there will be a one-time coupon step-up of 1%. The notes also carry a 0.5% bonus payment contingent on certain performance conditions. The public issuance is expected to launch on March 10 and run through March 16 with a minimum investment size of S$2,000 ($1,510).

For the full story, click here

Show Buttons
Hide Buttons