Azalea offers Astrea 8 retail bonds for public subscription

It is offering $260m Class A-1 and US$50m Class A-2 bonds.

Astrea 8 and Azalea Investment Management (Azalea) launched the Astrea 8 Class A-1 Bonds and Class A-2 Bonds for public subscription.

The issue marks the fifth private equity (PE) retail bond listed on SGX.

Astrea 8 offers $260m of Class A-1 Bonds at a fixed interest rate of 4.35% per annum and US$50m of Class A-2 Bonds at a fixed interest rate of 6.35% per annum.

The public offer will open on Thursday, 11 July at 9 am and end on Wednesday, 17 July at noon.

The public offer follows the successful placement of $260m of the Class A-1 Bonds and US$150m of the Class A-2 Bonds to institutional and accredited investors, which concluded on 10 July.

The placement tranche attracted strong demand from high-quality institutions, with an order book of over $1.2b, representing 2.6x subscription.