The Thailand Securities and Exchange Commission (SEC) published a notice urging holders of NR Instant Produce Public Company Limited’s NRF254A bond to review all available information and exercise their rights at the bondholders’ meeting scheduled for 25 March 2025. The e-meeting will consider waivers and an approval intended to prevent events of default under the bond’s terms and conditions. Bondholders will vote on waiving the issuer’s inability to close the bondholders’ register at least 14 days before the meeting and waiving the use of an updated eligible bondholder list, allowing the invitation to be sent using the list from Bondholders’ Meeting No. 1/2025. The agenda also includes approving the issuer’s proposal to mortgage land, buildings, and machinery at its seasoning manufacturing factory to a bank as collateral to secure a loan, refinance, or negotiate waivers or modifications for debt restructuring. The SEC requires the bondholders’ representative to analyse the benefits, shortcomings, and potential impacts on bondholders in both approval and non-approval scenarios, including supporting reasons and the representative’s opinions. Bondholders are encouraged to seek comprehensive information from the issuer and/or the bondholders’ representative before voting at the 25 March 2025 e-meeting.
Thailand Securities & Exchange Commission 2025-03-21
Thailand Securities and Exchange Commission urges NRF254A bondholders to review waiver requests and proposed asset mortgage ahead of 25 March meeting
The Thailand SEC urges NR Instant Produce Public Company Limited’s NRF254A bondholders to review information and exercise their rights at the upcoming meeting. The meeting will address waivers to prevent default events and consider mortgaging assets for debt restructuring. Bondholders should seek detailed information from the issuer and representative before voting.