Astrea 8 bonds achieve a 3.1x subscription rate

Class A-1 bonds had a 2.9x subscription rate, whilst Class A-2 had 3.9x.

Astrea 8 and Azalea Investment Management (Azalea) reported that their Astrea 8 Class A-1 and Class A-2 PE bonds garnered total subscriptions exceeding $1b, achieving a subscription rate of 3.1x the $260m and US$50m offered.

Meanwhile, the US$585m of bonds under the placement and public tranche were subscribed 2.8x.

Astrea 8 received over S$763m in valid applications for the Class A-1 bonds and US$194m for the Class A-2 bonds at the close of the offer on 17 July, noon.

Class A-1 bonds received 27,287 valid applications, whilst Class A-2 bonds had 9,894, translating to subscription rates of 2.9x and 3.9x, respectively.

In addition, over 76% of the bonds under the public offers were allocated to valid applicants who applied for less than $50,000 for the Class A-1 bonds or US$50,000 for the Class A-2 bonds.