The tokenisation covered bonds from the two USD-denominated tranches – Class A-2 and Class B bonds, which saw interest rates fixed at 3.25% and 4.35% per annum respectively.iSTOX reduced the minimum investment size for Class B security tokens to USD 20,000, from the typical USD 200,000 minimum denomination for wholesale bonds. Class A-2 security tokens were also made available from USD 20,000, instead of the bonds’ USD 50,000 minimum denomination.
The Astrea VI bonds are backed by cash flows from a portfolio of 35 private equity funds managed by reputable general partners. The portfolio consists of buyout funds (81%) and growth equity funds (19%), with exposure to 802 underlying companies at launch.
Investors who subscribed via iSTOX to the security tokens that provide Astrea VI bond exposure can begin trading them, as the tokens have been listed on the iSTOX exchange. New investors can participate in secondary trading by signing up as iSTOX users.
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