ACAP Reports a Default of Paying Interest for 2 Debentures Worth ฿500 Million!
ACAP Reports a Default of Paying Interest for 2 Debentures Worth ฿500 Million!
ACAP Reports a Default of Paying Interest for 2 Debentures Worth ฿500 Million!
9 เม.ย. 2563

Asia Capital Group Public Company Limited (ACAP) has made a statement according to the company could not be able to pay interest for all bondholders of ACAP190A and ACAP207A, due on 7 April 2020 which caused ACAP190A and ACAP207A to be defaulted in accordance with Terms and Conditions governing the rights and obligations of the issuers and debenture holders no.11.1.1.
However, this circumstance will not cause the default of the remaining outstanding debentures of ACAP in accordance with the Terms and Conditions no. 11.1.3 since the total amount of debt was lower than 500 million baht.
The reason for this circumstance occurred because ACAP has not received repayment from its loans as anticipated. The company has planned to receive loan repayment from two customers but they could not repay because of the delay of loan approval from other financial institutions, caused from the outbreak of COVID-19. However, as soon as the situation is back to normal, ACAP asserts that the company will not delay in arranging a bondholders meeting in order to inform the further steps to manage and plan for all debentures of the company.
 
ACAP190A will be matured on October 6, 2020, with a remaining amount of 668,682,000 Baht from an offered amount of 768,600,000 Baht and an interest default amount of 12,503,437.26 Baht.
ACAP207A will be matured on July 6, 2020, with a remaining amount of 716,100,000 Baht from an offered amount of 716,100,000 Baht and an interest default amount of 11,604,744.11 Baht.
 