Astrea 7 bond
AZALEA Asset Management an indirect subsidiary of Temasek Holdings is launching a new series of bonds back by 38 private equity PE funds. Similarly to the past launches there are three classes of bonds.
Application will close on 25 May.
. Singapore companies in focus on Thursday 19 May 2022. Temaseks Azalea launches Astrea 7 PE-backed bonds. 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.
11 hours 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. 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. It is around 396 per cent of the underlying PE portfolio valued at US19 billion.
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Astrea VI will mature more than one and a half year later than Astrea V and is. Temaseks Azalea launches Astrea 7 PE-backed bonds. Interest rates to be decided AZALEA Asset Management an indirect subsidiary of Temasek Holdings is launching a new series of bonds back by 38 private equity PE funds.
Singapore Airlines reports fiscal 2H net loss narrowed sharply. The bonds will rely on the cash flow from the underlying companies in the private equity funds to pay the interest coupon. 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.
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. Azaleas latest IG-rated PE bonds have been announced. Application will close on 25 May 2022 12pm.
Wing Tai Holdings CapitaLand China Trust Ascendas India Trust and First REIT. 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. Astrea 7 or the issuer as seen in the table above.
AZALEA Asset Management an indirect subsidiary of Temasek Holdings is launching a new series of bonds back by 38 private equity PE funds. Astrea 7 offers three classes of bonds. The indicative total size of the new issuance called Astrea 7 is US755 million.
Interest rates to be decided. Today Azalea Asset Management has released the Astrea 7 bonds for application. Fitch Ratings expects to rate the class A-1 A-2 and B bonds to be issued by Astrea 7 Pte.
The bonds issued by Astrea 7 will be backed by cash flows generated by the funds. 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. Temaseks Azalea launches Astrea 7 PE-backed bonds.
Heres our latest update on the finalised yields. 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. The bonds received orders over 11bn 17x issue size.
Temasek-linked Astrea 7 pricing bonds. The indicative total size of the new issuance called Astrea 7 is US755 million. 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.
On May 19 2022 By My Sweet Retirement In Money Management. Astrea is a series of bonds that are issued by a holding company that also held private equity funds as assets. 6 hours agoToday Azalea Asset Management has released the Astrea 7 bonds for application.
The proceeds will be used for refinancing of green assets according to its Green Financing Framework dated September 24 2020. In this issue of Astrea 7 the bonds is tied to 38 PE private equity funds. It is offering 277 million of Class A-1 Bonds and US100 million 138 million of Class B Bonds to retail investors in Singapore.
The transaction is expected to consist of approximately USD19 billion in net asset value NAV of funded commitments and USD250 million of unfunded capital commitments across 38 funds. It also raised 650mn via a 4NC3 bond at a yield of 4131 15bp inside initial guidance of UKT280bp area. The quantum is subject to change because Astrea 7s prospectus is preliminary.
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. Retail investors can also apply for Class B bonds which pay a higher fixed interest rate of 6 per cent per annum. Astrea 7 offers three classes of bonds.
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. Bondsupermart 9 March 2021 In a simplistic way of looking at all three different private equity-backed retail bonds available to us we can tell that the market is pricing in a premium of 0291 for an approximately one-year difference in maturity date between Astrea IV and Astrea V. Astrea 7 Pte.
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. Class A-1 A-2 and B backed by cash flows from a US19 billion portfolio of investments in 38 Private Equity Funds Total issue size of US755m against a Transaction Portfolio NAV of US19bn. Most likely the Astrea 5 bonds will be called back in 1 to 2 years.
The size of the transaction is about 755mn or S105bn 396 of its underlying PE portfolio valued at 19bn. Astrea V 385 for Class A-1. 1H22 will be significantly better.
AZALEA Asset Management an indirect subsidiary of Temasek Holdings is launching a new series of bonds back by 38 private equity PE funds. Temaseks indirect subsidiary Azalea has launched an Astrea 7 bond backed by 38 Private Equity PE funds. Interest rates to be decided.
The bonds received orders over 3bn 6x issue size. Class A-1 A-2 and B backed by cash flows from a US19 billion portfolio of investments in 38 Private Equity Funds.
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