Azalea lodges preliminary prospectus with MAS

The total offering size of the PE Bonds is approximately US$780m.

Astrea 9 Pte. Ltd., indirectly and wholly owned by Azalea Asset Management, has lodged its preliminary prospectus with MAS on 22 July, in connection with Astrea 9 Private Equity (PE) bonds offering.

The bonds come in three classes: Class A-1 Bonds, Class A-2 Bonds, and Class B Payment-in-Kind (PIK) Bonds. Only the Class A-1 and Class A-2 bonds are offered to Singapore retail investors.

The total offering size for the bonds is approximately $997.3m (US$780m), comprising $615m Class A-1 Bonds, $255.8 m (US$200m) Class A-2 Bonds, and $127.9m (US$100m) Class B PIK Bonds.

According to their announcement, these bonds are backed by cash flows from a quality diversified portfolio of 40 PE funds managed by 31 reputable general partners, with exposure to over 1,000 investee companies across various regions, vintages, and sectors.

Both Class A-1 and Class A-2 Bonds are expected to be rated investment grade by Fitch and will be listed on the Mainboard of the SGX-ST.

Azalea Asset Management, is wholly owned by Seviora Holdings and is indirectly and wholly owned by Temasek Holdings.