Thailand’s Securities and Exchange Commission has urged holders of Prime Road Power Public Company Limited’s PRIME253B bonds to review all available information, exercise their rights at the upcoming bondholders’ e-meeting, and seek additional details from the issuer and the bondholders’ representative before voting. The meeting is scheduled for 29 August 2025 after the prior meeting did not reach quorum. Bondholders will be asked to consider approvals relating to defaults arising from non-payment of principal and interest due on 31 July 2025, including exemptions from events of default and cancellation of the call default set out in the bondholders’ representative’s 1 August 2025 letter, as well as exemptions linked to cross-default conditions where unpaid debt exceeds THB 300 million. If the default-related item is approved, bondholders may also vote on rescheduling a partial principal repayment of at least 30 percent of par value per unit from 31 July 2025 to 28 November 2025, extending maturity by eight months and 20 days, increasing the interest rate by 0.50 percent per year from 6.45 percent to 6.95 percent effective from 31 July 2025 through the extended period, and providing additional collateral via a mortgage over land in Bo Phloi District, Kanchanaburi Province in favour of the bondholders’ representative, subject to stated conditions. The SEC also required the bondholders’ representative to analyse and present the benefits, shortcomings, and potential impacts on bondholders under both approval and rejection scenarios, with supporting reasons and the representative’s opinion. The rescheduled electronic meeting will be held at 14:00 on 29 August 2025.

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