The Thailand Securities and Exchange Commission (SEC) published a supervisory notice urging holders of Nakhonluang Capital Public Company Limited’s NAKON25OA and NAKON264A bonds to review all available information, exercise their rights at the upcoming bondholders’ e-meeting, and seek additional details from the issuer or the bondholders’ representatives ahead of voting. The issuer’s Bondholders’ Meeting No. 1/2025 held on 25 September 2025 failed to meet quorum and will be reconvened electronically on 3 October 2025 at 14:00. Proposed resolutions include extending the maturity of NAKON25OA by one year and six months to 19 April 2027 and NAKON264A by one year and one month to 19 May 2027, increasing the interest rate from 7.25 percent per year to 7.50 percent per year for the extended periods, granting exemptions from events of default linked to revising repayment terms and to potential debt restructuring negotiations within one year, and revising terms to give the issuer a right to redeem the bonds early (call option). The SEC requires the bondholders’ representatives to analyse the benefits, drawbacks, and potential impacts on bondholders under both approval and non-approval scenarios, with supporting reasons, and encourages bondholders to use this analysis and make further inquiries before voting.
Thailand Securities & Exchange Commission 2025-10-01
Thailand Securities and Exchange Commission urges Nakhonluang Capital bondholders to exercise voting rights on proposed maturity extensions and interest-rate increase
The Thailand Securities and Exchange Commission issued a supervisory notice urging holders of Nakhonluang Capital's NAKON25OA and NAKON264A bonds to review information and participate in the upcoming e-meeting. The meeting will address proposals to extend bond maturities, adjust interest rates, and revise repayment terms. Bondholders are advised to consider analyses from their representatives on the implications of these changes.