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Astrea 7 PE bonds 3 times subscribed

Goola Warden
Goola Warden • 2 min read
Astrea 7 PE bonds 3 times subscribed
The Astrea 7 PE Bonds were 3 times subscribed. The retail portion of Class A-1 was 3.5 times and Class B 1.3 times subscribed
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The total subscription received for all three classes of Astrea 7 PE (private equity) Bonds was over US$2 billion, which represents a subscription rate of 3 times of the US$755 million of Bonds offered. With respect to the retail offerings, the Issuer received valid applications of $877 million for the Astrea 7 Class A-1 Bonds and US$126 million for the Class B Bonds as at the close of offer, 12:00 noon on May 25, from a total of 30,565 and 7,059 applicants respectively. This equals to about 3.1 times subscription rate for the Class A-1 Bonds and about 1.3 times for the Class B Bonds.

Astrea 7 is the largest offering of retail PE bonds in Singapore to date. Retail investors can access two classes of investment grade bonds for the first time. More than 75% of bonds were allocated to all valid applications of less than $50,000. Valid applicants who applied for S$50,000 or more were balloted. The offer of US$200 million Class B Bonds was over 3 times subscribed and US$126 million received from 7,059 valid applicants under the inaugural retail offer with 73% of bonds allocated to all valid applications of less than US$50,000. All valid applicants were allocated in full or in part.

The Astrea 7 Class A-1 and Class B Bonds will be issued on Friday, May 27, 2022. Retail investors can check their allocations by logging into their CDP accounts after 5:00pm on the same day.

Applicants who did not receive their allocation will have their respective balances refunded through their bank accounts by 6:00pm on Friday, May 27, 2022.

The bonds will start trading on SGX-ST at 9:00am on May 30, 2022.

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