Astrea IV is a wholly owned subsidiary of Azalea Asset Management Pte. Ltd, which is indirectly wholly owned by Temasek Holdings. They are issuing bonds from their private equity funds, so this marks the first time we have a retail bond linked to companies that are not publicly listed and thus not accessible to the general non-accredited retail investors like you and me. Wholly shit.
Name: Class A-1 Bonds 10NC5
Interest: 4.35% pa, semi annual payment. If not redeemed after 5 yrs on Jun 2023, will step up to 5.35% pa
Maturity: 10 yrs, on 14th Jun 2028 with scheduled call date on 14th Jun 2023. “Scheduled” is not “optional”. If there is sufficient cash set aside for the class A bond to be redeemed, it must be redeemed. It’s not an option.
Application for IPO: Min $2k, with integral multiples of $1k thereafter