See also: Astrea VI PE bond fund with offer size of US$643 mil to be launched
Of these PE funds, 81% are buyout PE funds while the remaining 19% are growth equity PE funds. Astrea VI’s diversified portfolio provides exposure to 802 companies that operate across a broad range of industry sectors. The larger portfolio allows more PE bonds to be offered to retail investors while retaining a conservative capital structure, says Chue En Yaw, managing director and head of private equity funds at Azalea. Agreeing, CEO Margaret Lui says she is happy to offer another series of Astrea PE Bonds to retail investors in Singapore.
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The Class A-1 Bonds under Astrea VI will have a final maturity of 10 years and a Mandatory Call at the end of 5 years. The Issuer will be required to redeem the Class A-1 Bonds on Mar 18 2026, if there is sufficient cash set aside to repay the Class A-1 Bonds and other conditions are satisfied. Otherwise, the interest rate on the Class A-1 Bonds will have a one-time step-up from 3% to 4% per annum after this date until the Class A-1 Bonds are fully redeemed. Lui and Chue suggest that more offerings are to come on the Astrea Platform. “Azalea will continue to further develop the Astrea Platform and innovate products of different risk profiles for both institutions and retail investors,” Lui quips.