Astrea VI private equity bonds launched

SINGAPORE - The retail tranche of the latest issuance of the Astrea VI private equity bonds was launched on Tuesday (March 9) by Azalea Investment Management.

Astrea VI is offering $250 million of the Class A-1 Bonds at a fixed interest rate of 3 per cent per annum.

It will open at 9am on Wednesday (March 10) and close at noon next Tuesday (March 16).

This public offer follows the successful placement of $132 million of the Class A-1 Bonds, US$228 million of the Class A-2 Bonds and US$130 million of the Class B Bonds to institutional investors and accredited investors.

Azalea managing director and head of private equity funds Chue En Yaw said the Astrea VI private equity bonds are backed by cash flows from a US$1.5 billion portfolio of investments in 35 private equity funds.

Azalea Asset Management is an indirect subsidiary of Temasek Holdings.