Shares & Derivatives
Astrea VI Class A-1 Bonds – Balloting Results
By Mr. IPO  •  March 17, 2021
Astrea VI announced that its retail bond offering of S$250m was 3.1x subscribed and the overall issuance including the placement tranche was 5.9x subscribed. Considering that the issuance size this time is much larger at $250m (versus $180m in Astrea V) and the interest rate is much lower at 3% (versus 3.85% in Astrea V), I would consider this as a very good outcome and our retail investors definitely know a "safe" deal when they see one. 😂 The Issuer continue to allocate more than 3/4 of the issuance to small investors (defined as those who applied for less than $50,000) and stuck to its promise to ballot for those who applied for $50,000 or more. The balloting table is presented below: There is an interesting quote by Azalea's CEO, Ms Margaret Lui : "Private equity funds and related investment products are typically not accessible to retail investors. The Astrea PE Bonds are investment grade bonds which provide regular income and exposure to...
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By Mr. IPO
Mr. IPO graduated from NTU with a Bachelor in Accountancy (Honors) and started life as a lowly auditor. The audit experience not only polished up his accounting skills but also made him very skeptical about the financial records of companies. He always read the financial reports with a huge dose of salt ...
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