In total, JKN issued seven tranches of bonds worth 3.36 billion baht with maturity dates in 2024 and 2025. Stark Corporation missed payment on five tranches of bonds worth nearly 9.2 billion baht, while All Inspire Development missed payment on seven tranches of bonds worth 2.33 billion baht. One popular method is rolling the debt over by issuing a new tranche of debentures to raise fresh funding for the redemption of previous bonds. Obtaining loans from financial institutions has become more difficult, whether for corporate or project loans, amid growing caution by banks. Before the financial crisis in 1997, financial institutions offered project loans to developers for both land acquisition and project development.
