Bond Factsheet
ASTLC 6.350% 19Jul2039 Corp (USD) - Class A-2
Astrea 8 Pte Ltd
Indicative
Full Lot
Bid Price 102.607
Change in Bid Price 0.017
Bid Yield (%) 5.573 %
Change in Bid Yield 0.005
Ask Price 103.407
Change in Ask Price 0.183
Ask Yield (%) 5.340 %
Change in Ask Yield 0.053
Indicative price as of 06 Oct 2026, 3:40pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Astrea 8 Pte Ltd
Guarantor
-
Announcement Date
09 Jul 2024
Issue Date
19 Jul 2024
Maturity Date
19 Jul 2039
Years to Maturity / Next Call
12.789 / 3.784
Modified Duration
8.501 @ 06 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
6.350
Coupon Type
Fixed
Annual Coupon Rate
6.350
Coupon Frequency
Semi Annually
Seniority
Secured
Reference Rate
Coupon increase if the bond not redeemed on their Scheduled Call Date
Refer to coupon step feature for more information
ISIN
SGXPM06BV5U6
CUSIP
BCC3GQKQ0
Bond Currency
USD
Total Issue Size
200,000,000
Min. Investment Quantity (Nominal)
USD 1,000
Incremental Quantity (Nominal)
USD 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)
***/ Asf
Shariah Compliant
No
Exchange Listed
SGX
Issuer Call
During the Class A-2 Non-Call Period (defined below), there will be no redemption of the Bonds pursuant to the Class A-2 Mandatory Call (defined below), even if (i) so long as any Class A-1 Bond is outstanding, the Total Reserves Accounts Cap has been met before the Class A-2 Scheduled Call Date, or (ii) upon and after full redemption of all Class A-1 Bonds, the Class A-2 Reserves Accounts Cap has been met before the Class A-2 Scheduled Call Date.
Class A-2 Non-Call Period
The Issuer shall not exercise the Class A-2 Redemption Option (defined below) before 19 July 2030 (the “Class A-2 Scheduled Call Date” and the period between the Issue Date and the day before the Class A-2 Scheduled Call Date is defined as the “Class A-2 Non-Call Period”).
Class A-2 Redemption Option
The Issuer may redeem all (but not some only) of the Bonds at their principal amount together with unpaid interest accrued to the date fixed for such redemption (the “Class A-2 Redemption Option”) if the following conditions (collectively, the “Class A-2 Call Date Exercise Conditions”) are satisfied on the date of such redemption:
(i) the Reserves Balance (and, if the Class A-1 Bonds are also due for redemption on the same date, after taking into account all amounts used or set aside for redeeming the Class A-1 Bonds) as of the date of such redemption is not less than the aggregate principal amount of the Class A-2 Bonds;
(ii) no CF Loan will remain unpaid on the date of such redemption; and
(iii) no Class A-1 Bond remains or will remain outstanding on the date of such redemption.
Mandatory Call relating to the Class A-2 Redemption Option
The Issuer shall be obligated to exercise the Class A-2 Redemption Option (the “Class A-2 Mandatory Call”) in the event that:
(a) the Class A-2 Call Date Exercise Conditions are satisfied on the Class A-2 Scheduled Call Date, on the Class A-2 Scheduled Call Date; or
(b) the Class A-2 Call Date Exercise Conditions are not satisfied on the Class A-2 Scheduled Call Date, on the first Interest Payment Date (which is also a Distribution Date) after the Class A-2 Scheduled Call Date on which the Class A-2 Call Date Exercise Conditions are satisfied (the “Class A-2 Subsequent Call Date”).
“Scheduled Call Date” means the earliest date on which the Issuer could redeem the Class A-2 Bonds through the Class A-2 Mandatory Call
Scheduled Call Date: 19 July 2030
Coupon Step
Additional Note
After all of the Class A-1 Bonds have been redeemed in full, the Issuer shall have the option of redeeming all (but not some only) of the Bonds at their principal amount together with any unpaid interest accrued to the date of such redemption, upon any day which is both (i) on or after the Class A-2 Scheduled Call Date and (ii) on or after the date on which the total outstanding principal amount of the Bonds after deducting for the total balance in the Reserves Accounts (and including, for this purpose, the total amount of all Eligible BGs then in force) and the Reserves Custody Accounts is or less than US$75 million (the “Clean-up Option”). The Issuer may exercise the Clean-up Option by giving not less than 10 Business Days’ notice prior to the date fixed for redemption to the Bonds Trustee, the Principal Paying Agent, the Transfer Agent, the Registrar and the Bondholders, specifying the date of redemption (the “Clean-up Date”) and the redemption amount.
Upon the exercise by the Issuer of the Clean-up Option, the Issuer may, but is not under any obligation to, procure the sale of all or any of the Fund Investments. The Issuer shall not exercise the Clean-up Option unless the aggregate amount of funds that it expects to receive (i) through additional Equity Investments from the Sponsor, (ii) through the total balance in all Bank Accounts and Custody Accounts as of the Clean-up Date, and/or (iii) from the sale of the Fund Investments, will be sufficient to fund the aforesaid redemption amount in full.
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