Thailand Securities and Exchange Commission urges GRAND bondholders to review eight-month maturity extension and 0.30% per year coupon increase proposals

The Thailand Securities and Exchange Commission urged bondholders in seven series of bonds issued by Grande Asset Hotels and Property Public Company Limited to review available information and exercise their rights at the bondholders’ e-meeting on 21 May 2025. The meeting will vote on proposed amendments to the terms of the GRAND257A, GRAND257B, GRAND259B, GRAND259A, GRAND25OB, GRAND25OA and GRAND25DA bonds. Bondholders will consider extending redemption maturities for all seven series by eight months and increasing the interest rate by 0.30 percent per year throughout the extension period, with revised coupons of 7.55 percent (GRAND257A, GRAND25DA), 7.65 percent (GRAND25OA), 7.70 percent (GRAND257B, GRAND259B, GRAND25OB) and 7.75 percent (GRAND259A). The agenda also includes adding an obligation for the issuer to allocate cash flows from certain transactions toward pro rata repayment of the bonds, which were originally due between 14 July 2025 and 29 December 2025. The SEC requires the bondholders’ representative to analyse the benefits, shortcomings and potential impacts on bondholders if the proposals are approved or rejected, including supporting reasons and the representative’s opinion. The bondholders’ meeting will be held electronically on 21 May 2025 at 14:00, and bondholders are encouraged to seek comprehensive information from the issuer or the bondholders’ representative, Daol Securities (Thailand) Public Company Limited, before voting.