The Thailand Securities and Exchange Commission (SEC) urged holders of Prime Road Power Public Company Limited’s PRIME253B bond to review all available information and exercise their rights at a reconvened bondholders’ e-meeting on 5 March 2025, where investors will vote on proposed changes to the bond’s redemption terms. The SEC also required the bondholders’ representative to provide an analysis of benefits and shortcomings, including potential impacts on bondholders if the proposals are approved or rejected, supported by reasons and the representative’s opinion. The issuer is seeking approval to extend the bond’s maturity by one year to 8 March 2026, revise principal repayment into two instalments with at least 30 percent paid by 31 July 2025 and the balance on the extended maturity date, and increase the interest rate from 5.95 percent to 6.45 percent per year during the extended period. The meeting follows a 25 February 2025 bondholders’ meeting that failed to meet quorum requirements under the bond’s terms and conditions. Bondholders were encouraged to contact the issuer or the bondholders’ representative to obtain sufficient information before voting at the electronic meeting, scheduled for 14.00 hours on 5 March 2025.
Thailand Securities & Exchange Commission 2025-03-03
Thailand Securities and Exchange Commission urges PRIME253B bondholders to engage ahead of vote on maturity extension and revised repayment terms
The Thailand SEC has urged Prime Road Power Public Company Limited’s PRIME253B bondholders to review information and exercise their rights at a reconvened e-meeting on 5 March 2025. Bondholders will vote on extending the bond’s maturity by one year, revising principal repayment terms, and increasing the interest rate. The SEC also mandated the bondholders’ representative to provide an analysis of the proposals' benefits and shortcomings.