Class A-1 notes offered by Temasek-linked private equity (PE) vehicle Astrea III were fully redeemed yesterday.
In addition to the principal amounts of the notes, the note holders also received a bonus redemption premium of 0.3 per cent of the principal.
"We are heartened to see the full redemption of the first Singapore Exchange-listed private equity bond," said Ms Margaret Lui, chief executive of Azalea Investment Management.
"A bonus redemption premium of 0.3 per cent of principal was also paid as a result of the strong cash flow performance of the underlying portfolio of PE funds. This bears testament to the quality of the Astrea structure, in providing exposure to private equity through a fixed income product."
Astrea III, sponsored by Astrea Capital, is backed by cash flows from 33 funds managed by 25 general partners. The funds were invested in 420 companies across different sectors and regions as at Dec 31, 2018.
The issuer of Astrea III is an indirect wholly owned subsidiary of Azalea Asset Management, which is a wholly owned unit of Temasek.