Following the receipt of a Demand (as defined in the Guarantee) with regards to KNM Group Berhad’s event of default from the Bondholders’ Representative (“BHR”) on 3 December 2021 for Principal Amount and 13 December 2021 for Interests, CGIF paid THB 2,828,669,042.97 in total today, which accounts for (i) THB 2,780,000,000 reflecting the Principal Amount and (ii) THB 42,042,740.73 reflecting the Scheduled Interest due and unpaid under the Bond Conditions as well as (iii) THB 6,626,302.24 reflecting the Additional Accrued Interest to the BHR.

Manila, 3 December 2021 – KNM Group Berhad (“KNM” or the “Company”) has triggered a Non-Payment event of default (an Event of Default (“EOD”)) pursuant to clause 13.1 (a) of the Terms and Conditions of the Thai Baht Bonds (“Bonds”), guaranteed by CGIF on 18 November 2016. After failing to pay the principal amount during the grace period which lapsed on 2 December 2021, KNM has formally notified the Securities and Exchange Commission of Thailand today of the occurrence of such EOD.

The Credit Guarantee & Investment Facility (“CGIF”) has guaranteed JWD InfoLogistics Public Company Limited’s (“JWD”) second tranche of THB1.2 billion under its THB1.9 billion Guaranteed Bonds Programme.

Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (CGIF) has received on 19 November 2021, US$5,000,000 from Malaysia as payment for subscription of new shares under the capital increase proposal (CIP) approved by CGIF’s Contributors on 6 December 2017. 

The Credit Guarantee and Investment Facility (“CGIF”) is pleased to announce its support for Thaifoods Group Public Company Limited’s 5-year THB 1 billion Guaranteed Social Bond issued on 11 November 2021. The transaction is the first social bond guaranteed by CGIF and is also the first social bond issuance under ASEAN Social Bond Standards by a non-financial corporate entity.