Bond Information
Astrea VI Class A-1 Bonds
Stock code: 6AZB
The bonds began trading on the SGX-ST Mainboard on 19 March 2021.
Identifiers
Stock Price
Portfolio Activity (US$)
For the latest Distribution Period, US$125m of distributions were received from the PE Funds while US$6m was invested through capital calls. The net distributions of US$119m were applied to the Priority of Payments. These cash flow and unrealised fair value movements resulted in an ending Portfolio NAV of US$837m.
Performance Threshold was met as at 18 Sep 2022
The Performance Threshold was met as at 18 Sep 2022, thus there would be a Bonus Redemption Premium of 0.5% paid to Class A-1 Bondholders upon redemption. This also triggered Sponsor Sharing and an additional US$32m was reserved on top of the scheduled reserves for the Seventh Distribution Date (18 Sep 2024).
Outstanding Bonds
| Class | Class A-1 Bonds | Class A-2 Bonds | Class B Bonds |
|---|---|---|---|
| Principal Amount | S$382m (US$285m) | US$228m | US$130m |
| Interest Rate Per Annum | 3.00% | 3.25% | 4.35% |
| Interest Rate Step-Up Per Annum | 1.0% | 1.0% | N/A |
| Scheduled Call Date | 18 March 2026 | 18 March 2026 | N/A |
| Maturity Date | 18 March 2031 | 18 March 2031 | 18 March 2031 |
| Ratings (Fitch / S&P)1 | AA-sf2 / A+ (sf) | A+sf3 / Not rated | Asf4 / Not rated |
Click the links to access the Fitch Ratings Report as well as S&P's Final Ratings Press Release and S&P's Presale Report.
1 Fitch and S&P have not provided their consent, for the purposes of Section 249 of the SFA, to the inclusion of the information cited and attributed to them in the Prospectus, and are therefore not liable for such information under Sections 253 and 254 of the SFA (as described in the section “Credit Ratings”).
2Rated A+sf at launch, Class A-1 Bonds were upgraded to AA-sf by Fitch on 13 Feb 2024. Click here for the press release.
3Rated Asf at launch, Class A-2 Bonds were upgraded to A+sf by Fitch on 10 Dec 2024. Click here for the press release.
4Rated BBBsf at launch, Class B Bonds were upgraded to BBB+sf by Fitch on 15 Feb 2022. Click here for the press release. The bonds were then upgraded from BBB+sf to Asf by Fitch on 13 Feb 2024. Click here for the press release.
Videos
March 9, 2021
Astrea VI Management Presentation
March 9, 2021
Astrea VI Private Equity Bonds
May 31, 2018
What are Private Equity Bonds?
March 9, 2021
Astrea VI Private Equity Bonds - Chinese Subtitles
May 31, 2018
What are Private Equity Bonds? - Chinese Subtitles