STARK did not survive! Bondholders voted “Default payment” and called for the immediate payment of principal and interest, totaling 2,241 million baht Bondholders’ representative must notify STARK within 5 days in order to pay all debts within 30 days .
On May 31, 2023, the reporter reported the movement of Stark Corporation Public Company Limited or STARK, which has 5 series of debentures at risk of default. The total value of the outstanding debt is 9,198.4 million baht inclusive
– Stark Corporation Public Company Limited Debentures No. 1/2021 Series 1 Due 2023 (STARK239A) Number of debentures issued and principal amount issued 1,291.50 million baht, maturity date Debentures September 2, 2023
– Stark Corporation Public Company Limited Debentures No. 1/2021 Series 2 Due 2024 (STARK249A) Number of debentures issued and principal amount issued in the amount of 949.50 million baht, maturity date Debenture redemption September 2, 2024
– Stark Corporation Public Company Limited Debentures No. 1/2022 Series 2 Due 2024 (STARK245A) Number of debentures issued and principal amount issued in the amount of 1,701.10 million baht, maturity date Debenture redemption 12 May 2024
– Stark Corporation Public Company Limited Debentures No. 1/2022 Series 3 Due 2025 (STARK255A) Number of debentures issued and principal amount issued in the amount of 1,322 million baht, maturity date Debenture redemption 12 May 2025
– Stark Corporation Public Company Limited Debentures No. 2/2022 Due 2024 (STARK242A) Number of debentures issued and principal amount issued in the amount of 3,934.3 million baht, debenture maturity date 17 February 2024
Today (May 31) at 2:00 pm, the bondholders’ representative has organized a bondholders’ meeting. 1.Consider omitting the event of default caused by the bond issuer submitting the annual registration statement for the year 2022 later than what is required by law and terms and conditions, and (Call Default) (Voting will be considered item 2 on the agenda only if the bondholders’ meeting has a resolution “Not except for the event of default” in Agenda 1)
Inside sources revealed that “Prachchart Business” says that all 5 series of STARK bonds, 2 of which are STARK239A and STARK249A, have been decided by the meeting of the bondholders to vote for the principal debt and interest under the all bonds to be paid at once (Call Default)
In the next step, the debenture creditor can claim compensation through the debenture holder’s representative. The bondholder’s representative must notify STARK within 5 days in order to repay all debts within 30 days (including 2 series of debts worth approximately 2,241 million baht).
