A&G News 20 August 2018

Allen & Gledhill acted as transaction counsel and legal adviser to Astrea IV Pte. Ltd. (“Astrea IV”) on the issue of S$242 million Class A-1 secured fixed rate bonds due 2028, US$210 million Class A-2 secured fixed rate bonds due 2028 and US$110 million Class B secured fixed rate bonds due 2028 (collectively, the “Bonds”).

The Bonds are the first retail bonds in Singapore backed by cash flows from private equity funds. This transaction was a significant milestone in the development of Singapore’s capital markets, as it was the first transaction in Singapore to make private equity accessible to retail investors through a private equity bond structure.

Acting for Astrea IV on Singapore law were Allen & Gledhill Partners Yeo Wico, Jeanne Ong, Andrew Chan, Danny Tan and Ng Wuay Teck.

Acting for Astrea IV on Singapore tax issues was Allen & Gledhill Partner Lim Pek Bur.

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