Key Highlights of Semi-Annual Distribution Report for the period 8 January 2017 to 7 July 2017

Distribution Reference Date: 23 June 2017

Cashflow activity of Astrea III first distribution period
Portfolio activity of Astrea III first distribution period
  • The Manager is pleased to present the second Distribution Report on behalf of Astrea III Pte. Ltd. (“Astrea III” or the “Issuer”).
  • This report is presented for the period from 8 January 2017 to 7 July 2017. 
  • For the period from 8 January 2017 to 7 July 2017, cashflow activity included distributions of $125m and capital calls of $26m. Other inflows include interest income and tax refunds of $0.4m. 
  • The Issuer met its interest obligations falling due on 8 July 2017 in respect of Class A-1, Class A-2 and Class B Notes by paying interest to Noteholders. In addition, total reserves of $45m were paid into the Reserves Accounts on the Distribution Date for the principal repayment of Class A Notes pursuant to Clause 11 of the Priority of Payments. Including amounts previously funded into the Reserves Accounts, the total Reserve Amount is $207m. The total Reserve Amount exceeds the S$228m Class A-1 Notes principal amount, and represents 61% of the Reserves Accounts Cap (which accounts for both Class A-1 Notes and Class A-2 Notes).
  • The full Bonus Redemption Premium of 0.30% of the principal amount of Class A-1 Notes being S$684,000 (equivalent to $494,613) has been paid into the Bonus Redemption Premium Reserves Accounts pursuant to Clause 19 of the Priority of Payments. As of the current Distribution Date, the Class A-1 Bonus Redemption Premium Threshold has not been met
  • The Portfolio NAV had fair value gains of $92m and ended the period $1,052m as of Distribution Reference Date. The Maximum LTV Ratio was not exceeded.

This is a summary of the Semi-Annual Distribution Report to Noteholders. Click here for the full report.