The Thailand Securities and Exchange Commission (SEC) issued a supervisory notice urging bondholders in 15 Property Perfect Public Company Limited (PF) bond series to review all available information and exercise their rights at an electronic bondholders’ meeting scheduled for 6 August 2025. Items to be voted on include using the bondholders’ record date for interest payments as the record date for convening the meeting, and exempting the issuer from the requirement to close the bond register more than 14 days before the meeting. Bondholders will also consider cancelling the issuer and bond credit ratings and related reporting obligations, effective from the approval date. The meeting will further consider measures linked to debt restructuring across all 15 series, including exemptions from events of default while restructuring is pursued, a two-year maturity extension, a 0.25 percentage point annual interest rate increase from the resolution date, and revised interest payments featuring partial interest at 3.0 percent per year for eight interest periods, with deferred and increased interest largely aggregated and payable with principal at the new maturity date or on full early redemption. The SEC also requires the bondholders’ representative to analyse the benefits, shortcomings, and potential impacts of approving or rejecting the proposals, with supporting reasons and an opinion, and encouraged bondholders to seek comprehensive information from the issuer or the representative before voting.

Original source View in tracker