Astrea 7 bond
Astrea 7 is a private equity PE collateralized fund obligation CFO backed by interests in a diversified pool of alternative investment funds with approximately USD19 billion in net asset value NAV and. Similarly to the past launches there are three classes of bonds.
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Astrea 7 marks the seventh series of asset-backed securities offered by the Group and the cash flows are backed by a portfolio of 38 private equity PE funds with over 982 investee companies.
. The reallocation of class A bond principal did not result in a change to the cumulative LTV of Astrea 7s rated bonds. Astrea 7 Bonds Preview. The initial price guidance for Class A-1 A-2 and B bonds are 4375 5625 and 6375 respectively but are also subject to change.
Class A-1 A-2 and B backed by cash flows from a US19 billion portfolio of investments in 38 Private Equity FundsOnly Class A-1 and B bonds are available for application. Astrea is sponsored by Astrea Capital which is a wholly owned subsidiary of Azalea Asset Management which in turn is wholly owned by Singapore state-owned investment company. Application will close on 25 May 2022 12pm.
The bonds will rely on the cash flow from the underlying companies in the private equity funds to pay the interest coupon. Astrea 7 PE Bond investors face typical risks such as default interest rate liquidity inflation risks exchange rate risks adverse macro-economic or market conditions including those arising from rising inflation andor interest rates armed conflicts or a pandemic and other risks specific to private equity investments such as. The bonds received orders over 11bn 17x issue size.
Class A-1 Bonds of Astrea VI PE Bonds will pay investors 300 pa. There will be two types of bonds available to retail investors. Temasek-linked Astrea 7 is pricing three classes of private-equity bonds with public and institutional tranches according to a client note seen by Shenton Wire Wednesday.
Fitch Ratings expects to rate the class A-1 A-2 and B bonds to be issued by Astrea 7 Pte. The issuance is expected to have three classes of bonds namely A-1 A-2 and B but only Class A-1 and Class B bonds will be made available to retail. Astrea 7 or the issuer as seen in the table above.
The reallocation of class A bond principal did not result in a change to the cumulative LTV of Astrea 7s rated bonds. Interest rates to be decided. Most likely the Astrea 5 bonds will be called back in 1 to 2 years.
However we have to recognise that the current interest rate environment is lower than when Astrea IV and V were issued. Astrea is a series of bonds that are issued by a holding company that also held private equity funds as assets. AZALEA investment management on Thursday May 19 launched its latest batch of Astrea private equity PE bonds for public subscription with retail investors having access to Class B bonds that pay a higher fixed interest rate for the first time.
Here is all you need to know about. The bonds received orders over 3bn 6x issue size. But aside from that the term of the Astrea 5 is shorter than the Astrea 7 but the yield is also lower so we cannot really assess the quality difference between Astrea 5 and 7.
Up to 6 pa. Astrea 7 Pte. Astrea V 385 for Class A-1.
The indicative total size of the new issuance called Astrea 7 is US755 million. 1 day agoToday Azalea Asset Management has released the Astrea 7 bonds for application. The size of the transaction is about 755mn or S105bn 396 of its underlying PE portfolio valued at 19bn.
It is offering 277 million of Class A-1 Bonds and US100 million 138 million of Class B Bonds to retail investors in Singapore. Private Equity PE Bonds From Temasek-Owned Azaela. Class A-1 Bonds offering 4125 per annum and Class B.
Retail investors can also apply for Class B bonds which pay a higher fixed interest rate of 6 per cent per annum. The indicative total size of the new issuance called Astrea 7 is US755 million. Astrea 7 bond application begins today 20 may 22 at 9am.
The resizing of tranches resulted in slightly more negative cash flow modelling results for the A-1 bonds due to the higher LTV but did not materially change Fitchs overall analysis which supported todays affirmation of the. There will be two types of bonds available to retail investors. The indicative total size of the new issuance called Astrea 7 is US755 million.
14 hours agoOn 19 May 2022 Azalea Investment Management launched its latest batch of Astrea private equity PE bonds for public subscriptions. When you compare this to when Astrea IV 435 and Astrea V 385 first offered its Class A-1 Bonds the interest is slightly lower. The Singaporean state-owned investment firm could have raised more than 4bn for its private equity-backed portfolio.
The proceeds will be used for refinancing of green assets according to its Green Financing Framework dated September 24 2020. It also raised 650mn via a 4NC3 bond at a yield of 4131 15bp inside initial guidance of UKT280bp area. AZALEA Asset Management an indirect subsidiary of Temasek Holdings is launching a new series of bonds back by 38 private equity PE funds.
The quantum is subject to change because Astrea 7s prospectus is preliminary. Class A-1 Bonds with a fixed interest rate of 4125 per annum and Class B Bonds with a fixed interest rate of 6 per annum. It is around 396 per cent of the underlying PE portfolio valued at US19 billion.
In this issue of Astrea 7 the bonds is tied to 38 PE private equity funds. 1 day agoThe public offer of Astrea 7 PE bonds comprises S280 million in Class A-1 bonds which pay a fixed interest rate of 4125 per cent per annum above the coupon for Class A-1 bonds in the previous Astrea V and VI issuances. Temaseks Azalea launches Astrea 7 PE-backed bonds.
Temaseks indirect subsidiary Azalea has launched an Astrea 7 bond backed by 38 Private Equity PE funds. I noticed that the credit quality of Astrea 7 Class A-2 and B are lower than the Astrea 5 issue based on Fitch Rating. The new Astrea 7 Bonds are private equity bonds with Astrea 7 Bonds interest rates of up to 6 pa.
Astrea is a series of bonds that are issued by a holding company that also held private equity funds as assets. AZALEA Asset Management an indirect subsidiary of Temasek Holdings is launching a new series of bonds back by 38 private equity PE funds. Out of a total indicative size of USD 755m Class A-1 bonds will have an allocation of USD 380m SGD 526m while Class A-2 and B will have a.
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