Portfolio Activity (US$)
For the latest Distribution Period, US$80m of distributions were received from the PE Funds while US$6m was invested through capital calls. The net distributions of US$74m were applied to the Priority of Payments. These cash flow and unrealised fair value movements resulted in an ending Portfolio NAV of US$789m.
Class A-1 and A-2 Bonds redeemed as scheduled on 20 June 2024 and Class B Bonds fully redeemed on 20 December 2024
Summary of Astrea V Bonds
| Class | Class A-1 Bonds | Class A-2 Bonds | Class B Bonds |
|---|---|---|---|
| Principal Amount | S$315m (US$230m) | US$230m | US$140m |
| Bonds Redeemed | US$230m *fully redeemed* | US$210m *fully redeemed* | US$140m *fully redeemed* |
| Interest Rate Per Annum | 3.85% | 4.50% | 5.75% |
| Interest Rate Step-Up Per Annum | 1.0% | 1.0% | N/A |
| Scheduled Call Date | 20 June 2024 | 20 June 2024 | N/A |
| Maturity Date | 20 June 2029 | 20 June 2029 | 20 June 2029 |
| Ratings (Fitch / S&P)1 | AA-sf2 / AA- (sf)3 | A+sf4 / Not rated | A+sf5 / Not rated |
Click the links to access the Fitch Ratings Report as well as S&P's Presale Report.
1Fitch and S&P have not provided their consent, for the purposes of Section 249 of the Securities and Futures Act, Chapter 289 of Singapore (“SFA”), to the inclusion of the information cited and attributed to them in the Prospectus, and are thereby not liable for such information under Sections 253 and 254 of the SFA (as described in the section “Credit Ratings“ of the Prospectus).
2Rated Asf at launch, Class A-1 Bonds were upgraded to A+sf by Fitch on 22 Feb 2021. Click here for the press release. The bonds were then upgraded from A+sf to AA-sf by Fitch on 15 Feb 2023. Click here for the press release.
3Rated A+ (sf) at launch, Class A-1 Bonds were upgraded to AA- (sf) by S&P on 28 Aug 2023. Click here for the press release.
4Rated Asf at launch, Class A-2 Bonds were upgraded to A+sf by Fitch on 15 Feb 2022. Click here for the press release.
5Rated BBBsf at launch, Class B Bonds were upgraded to A-sf by Fitch on 15 Feb 2022. Click here for the press release. The bonds were then upgraded from A-sf to Asf by Fitch on 15 Feb 2023. Click here for the press release. The bonds were then upgraded from Asf to A+sf by Fitch on 13 Feb 2024. Click here for the press release.
Videos
June 11, 2019
Astrea V Management Presentation
June 11, 2019
Astrea 5 Private Equity Bonds
August 31, 2018
What are Private Equity Bonds?
June 11, 2019
Astrea V Private Equity Bonds - Chinese Subtitles
May 31, 2018
What are Private Equity Bonds? - Chinese Subtitles