Bayfront Infrastructure Capital IV
portfolio
40 project and infrastructure loans and bonds
diversification
15 countries + 10 sub-sectors
Priced
September 2023
With a focus on renewable energy, Bayfront Infrastructure Capital IV Pte. Ltd. (BIC IV) offered investors stable, long-term cash flows through a diverse portfolio of project and infrastructure loans and bonds across Asia-Pacific, the Middle East, the Americas and Africa.
Bayfront Infrastructure Capital IV
Investor relations
Issuance summary
| Class1 | Amount Issued (US$ million) | Amount Outstanding4 (US$ million) | Issue Ratings (Moody’s) | Spread6 | Legal Maturity Date | |
|---|---|---|---|---|---|---|
| Original | Current | |||||
| A1 | 170.6 | 131.4 | Aaa (sf) | Aaa (sf) | 150 bps | 11-Apr-2044 |
| A1-SU | 115.0 | 88.6 | Aaa (sf) | Aaa (sf) | 142.5 bps | 11-Apr-2044 |
| B | 54.5 | 54.5 | Aa1 (sf) | Aa1 (sf) | 225 bps | 11-Apr-2044 |
| C | 31.6 | 31.6 | A3 (sf)5 | A3 (sf) | 490 bps | 11-Apr-2044 |
| D2 | 13.0 | 13.0 | Not rated | Not rated | 350 bps | 11-Apr-2044 |
| Pref Shares3 | 25.6 | 25.6 | Not rated | Not rated | N.A. | - |
1 Class A - C Notes are rated by Moody’s and listed on the Singapore Exchange.
2 Class D Notes are unlisted and unrated and are guaranteed by GuarantCo Ltd for principal and interest amounts payable. GuarantCo is rated A1 by Moody’s as of July 2024 and AA- by Fitch as of May 2024.
3 Not offered. 80.5% held by Bayfront as Sponsor of the transaction, and 19.5% held by UK Foreign and Commonwealth Development Office as part of its Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme.
4 As of 11 April 2025
5 The Class C tranche was initially rated Baa1(sf) at launch of the transaction (as seen in the Moody’s Pre-sale Report), and was subsequently upgraded to A3 on issue date due to the tightening of the final spreads for the Class A1-SU, B and C tranches.
6 Spread is applied over 6-month daily non-cumulative compounded Secured Overnight Floating Rate (SOFR).
Offering document
Moody’s rating reports
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