SINGAPORE (June 13): Azalea Investment Management, a Temasek Holdings subsidiary, saw strong investor support for its Astrea IV Bonds – said to be the world’s first listed private-equity bond for retail investors.
At the close of offering at Tuesday noon, the bond issue was 7.4 times subscribed. Nearly S$890 million in valid applications were received for the S$121 million Class A-1 Bonds retail offering in Singapore.
The bonds were issued by Astrea IV and Azalea Investment Management. Astrea IV is an indirect wholly-owned subsidiary of Azalea Asset Management. which is, in turn, an indirect wholly-owned subsidiary of Temasek. Launched on June 6, the retail bonds are backed by cash flows from private equity fund investments... (Click here to read the full story)