Anonymous
Astrea 7 bonds
This is my first time applying for bonds IPO. What are the fees involved when selling this bond on the secondary market. The mandatory call is in 5 years while the maturity date is in 10 years, does it mean the bond can either mature in 5 years or 10 years? There is a one-time 1% step-up in interest rate, does it mean the bond will yield additional 1% pa from the 5th year onwards?
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Tan Choong Hwee
Edited 25 May 2022
Solutions Specialist at Providend
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Astrea 7 would be listed on SGX, the fees involved is the commission, same as selling shares. Maturity is 10 years, but Astrea has the option to call (meaning redeem) the bond in the end of the 5th year. If they decide not to redeem in year 5, then they would have to pay additional 1% pa coupon from the 6th year onwards.