Creditstar Group - diskuze k poskytovateli

[tomaso1980]

Pro lepší dohledání a evidenci sem zkopíruju info ohledně prodloužení splátek Creditstaru na Mintosu.

"As you know, in July, Creditstar and Mintos had agreed to restructure the pending payments, contingent on the lending company raising outside capital. The lending company had planned to attract €30 million to meet its financial obligations and fully cover the restructured pending payments.

Since then, Creditstar’s portfolio on Mintos has decreased from €28.9 million to €25.3 million and the company transferred €3.6 million in net principal, as new investments were lower than borrowers’ repayments. The company has also paid €1.74 million in interest to investors on Mintos. As agreed, Creditstar’s pending payments have not increased above the restructured amount.

Due to the challenging environment on the financial markets, Creditstar was only able to raise €14 million in new capital out of the planned €30 million, from which the company had to repay the bonds that matured in December. As a result, Creditstar won’t be able to cover the restructured pending payments of €8.3 million by 31 December 2022 as originally agreed.

To remedy the situation, Creditstar is required to cover repayments on the restructured amounts from its operational cashflows, and will also continue working on attracting additional financing to pay down the restructured pending payments faster.

The company is in the process of onboarding a financial investor to raise €10-15 million in debt investment. It is currently undergoing a due diligence step and expects to complete onboarding by the end of February 2023.

The company has applied for an increase in its credit line facility with a Swedish financial group. It expects to receive approval by the end of Q1 2023.

The company aims to continue attracting investors to buy its bonds. Considering all of the above, we’ve agreed to prolong the restructuring process, while making sure investors are compensated adequately for rolling over their investments:

Considering all of the above, we’ve agreed to prolong the restructuring process, while making sure investors are compensated adequately for rolling over their investments:

Creditstar has to cover all pending payments by the end of May 2023. The company has to make regular transfers according to the following repayment plan:

Repayment date Repayment amount (€)
13 Jan 2023 250k
27 Jan 2023 250k
10 Feb 2023 250k
24 Feb 2023 250k
10 Mar 2023 250k
24 Mar 2023 3.4m
7 Apr 2023 250k
21 Apr 2023 250k
5 May 2023 250k
19 May 2023 250k
26 May 2023 2.55m
Total 8.3m

Funds received will be disbursed to investors as soon as they arrive in our account.

To compensate you for rolling over your investments, Creditstar has to pay a one-time “sweetener” of 1% of the rolled-over amounts by 6 January 2023.

To make sure you are receiving adequate interest for the period, pending payments interest for the restructured amount will remain at 18% per annum, which is significantly above the current average market rate of 13.6%.

Additionally, Creditstar must fully cover any new pending payments within the standard settlement period.

We believe that extending the restructuring process offers the best chance of fully recovering the outstanding amounts. A failure to follow the agreed schedule would be considered an event of default, and if the situation requires, we’ll start legal proceedings.

Upřímně, nic lepšího jsem ani nečekal...tak uvidíme..

Tak těch prvních 250k euro už splatili...aspoň podle reportu na pending payments

[tomaso1980]

tak už splatili 1 mil. EUR na pending payments, což odpovídá na splátkový kalendář.. Zajímalo by mě, jak splácí dluhopisy...

[gulliver]

tak už splatili 1 mil. EUR na pending payments, což odpovídá na splátkový kalendář.. Zajímalo by mě, jak splácí dluhopisy...

jj jde to pěkně vidět i na tomto grafu

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