Astrea 9, Azalea launch Retail PE Bonds on SGX for public offer

The placement tranche was 3.6x subscribed.

Astrea 9 Private Limited and Azalea Investment Management have launched the Astrea 9 Class A-1 Bonds and Class A-2 Bonds for public subscription on the Singapore Exchange.

It is the sixth series of private equity retail bonds to be listed on the SGX.

Under the Public Offer, the issuer offered $380m of Class A-1 Bonds at a fixed interest rate of 3.4% per annum, as well as $64.7m (US$50m) of Class A-2 Bonds at a fixed interest rate of 5.7% per annum.

To support growing demand amongst individual investors, Azalea is increasing the amount of retail bonds available to the public by 37% in Astrea 9.

The offering attracted strong demand from high-quality institutions, with an orderbook close to $2b, representing 3.6x subscription.

($1=USD0.77)