The Thailand Securities and Exchange Commission (SEC) issued an investor alert to holders of JCK International Public Company Limited’s JCK213A and JCK217A bonds, urging them to review all available information and exercise their voting rights at the reconvened bondholders’ meeting on 25 July 2025, where the issuer will seek approval for changes to key bond terms. The earlier bondholders’ meeting on 18 July 2025 did not meet quorum, and the company will reconvene electronically on 25 July 2025 at 14:00 to consider extending the maturity of JCK213A by three months so redemption falls due on 22 June 2027, rescheduling principal repayments for both series into three instalments with the first two instalments totalling at least 10 percent of the original principal (for JCK217A, as of the bond issuance date, and for JCK213A, as of 24 January 2023), and repaying the remaining balance in the third instalment. For JCK213A, the proposals also include extending deadlines tied to exercising redemption rights or reclaiming collateral assets (or any replacement assets) from 22 March 2026 and 22 December 2026 to 22 September 2026 and 22 March 2027, respectively. The SEC also required bondholders’ representatives to analyse the benefits, shortcomings and potential impacts on bondholders under both approval and rejection scenarios, supported by reasons and the representatives’ opinions.
Thailand Securities & Exchange Commission 2025-07-22
Thailand Securities and Exchange Commission urges JCK bondholders to scrutinise restructuring proposals ahead of 25 July meeting
The Thailand Securities and Exchange Commission issued an alert urging holders of JCK International Public Company Limited’s JCK213A and JCK217A bonds to review information and vote at the reconvened bondholders’ meeting on 25 July 2025. The meeting will address proposed changes to bond terms, including maturity extension and rescheduling of principal repayments. Bondholders’ representatives must analyze the implications of the proposals and provide their opinions.