Bond Factsheet
ASTLC 3.000% 18Mar2031 Corp (SGD) - Class A-1
Astrea VI Pte Ltd
Indicative
Full Lot
Bid Price 100.070
Change in Bid Price 0.008
Bid Yield (%) 24.861 %
Change in Bid Yield 3.095
Ask Price 100.170
Change in Ask Price 0.408
Ask Yield (%) 19.747 %
Change in Ask Yield 20.266
Indicative price as of 09 Mar 2026, 12:00am
Bond Issuer
Astrea VI Pte Ltd
Guarantor
-
Announcement Date
08 Mar 2021
Issue Date
18 Mar 2021
Maturity Date
18 Mar 2031
Years to Maturity / Next Call
4.451 / -
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
3.000
Coupon Type
Fixed
Annual Coupon Rate
3.000
Coupon Frequency
Semi Annually
Seniority
Secured
Reference Rate
-
ISIN
SGXF34882443
CUSIP
BCC2R6RY0
Bond Currency
SGD
Total Issue Size
382,000,000
Min. Investment Quantity (Nominal)
SGD 1,000
Incremental Quantity (Nominal)
SGD 1,000
Bond Type
Asset-backed Security
Bond Sector
Private Equity
Bond Sub Sector
Private Equity
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ AA-sf
Shariah Compliant
No
Exchange Listed
SGX
Issuer Call
Unless previously redeemed or purchased and cancelled as provided below, the Issuer shall redeem the Bonds at their principal amount on 18 March 2031 (the “Maturity Date”) together with the Bonus Redemption Premium (if payable in accordance with Condition 5(C)) and unpaid interest accrued to the date of such redemption. The Bonds may not be redeemed, in whole or in part, prior to the Maturity Date other than in accordance with this Condition (but without prejudice to Condition 10).
(B) Mandatory Call (with Non-Call Period of 5 years)
During the Non-Call Period (defined below), there will be no redemption of the Bonds pursuant to the Class A-1 Mandatory Call (defined below), even if the Reserves Accounts Cap has been met before the Class A-1 Scheduled Call Date.
Non-Call Period
The Issuer shall not exercise the Class A-1 Redemption Option (defined below) before 18 March 2026 (the “Class A-1 Scheduled Call Date” and the period between the Issue Date and the day before the Class A-1 Scheduled Call Date is defined as the “Non-Call Period”).
Class A-1 Redemption Option
The Issuer may redeem all (but not some only) of the Bonds at their principal amount together with the Bonus Redemption Premium (if payable in accordance with Condition 5(C)) and unpaid interest accrued to the date fixed for such redemption (the “Class A-1 Redemption Option”) if the following conditions (collectively, the “Class A-1 Call Date Exercise Conditions”) are satisfied on the date of such redemption:
(i) the total balance in the Reserves Accounts and the Reserves Custody Account as of the date of such redemption is not less than the aggregate principal amount of the Bonds; and
(ii) no CF Loan will remain unpaid on the date of such redemption.
Mandatory Call
The Issuer shall be obligated to exercise the Class A-1 Redemption Option (the “Class A-1 Mandatory Call”) in the event that:
(a) the Class A-1 Call Date Exercise Conditions are satisfied on the Class A-1 Scheduled Call Date, on the Class A-1 Scheduled Call Date; or
(b) the Class A-1 Call Date Exercise Conditions are not satisfied on the Class A-1 Scheduled Call Date, on the first Interest Payment Date (which is also a Distribution Date) after the Class A-1 Scheduled Call Date on which the Class A-1 Call Date Exercise Conditions are satisfied (the “Class A-1 Subsequent Call Date”).
Coupon Step
Scheduled Call Date: 18 March 2026
Additional Note
In the event that the Performance Threshold has been met on a Distribution Date falling on or before the Class A-1 Scheduled Call Date, the total cash balance in the Bonus Redemption Premium Reserves Accounts not exceeding 0.5% of the principal amount of the Bonds as of the Issue Date (the “Bonus Redemption Premium”) shall become payable to the Bondholders upon the redemption of the Bonds pursuant to Condition 5(A) or Condition 5(B) in proportion to their holdings of Bonds (rounded down, if necessary to the nearest Singapore cent). The remaining amount (if any) in the Bonus Redemption Premium Reserves Accounts (after paying the Bonus Redemption Premium) shall be paid to the Sponsor.
In the event that the Bonus Redemption Premium becomes payable to the Bondholders in accordance with this Condition 5(C), the Issuer shall give to the Bonds Trustee, the Principal Paying Agent, the Transfer Agent, the Registrar, the Security Trustee and the Bondholders notice of the amount of the Bonus Redemption Premium not less than 10 Business Days prior to the date fixed for redemption.
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