The Thailand Securities and Exchange Commission (SEC) urged holders of Wastech Exponential Company Limited’s STRD24DA bond to review all available information, exercise their rights at the upcoming bondholders’ e-meeting, and seek sufficient details from the issuer or the bondholders’ representative before voting. The SEC also required the bondholders’ representative to assess the benefits, shortcomings and potential impacts on bondholders of approving or rejecting the proposed resolutions, with supporting reasons and the representative’s opinion. Items to be considered at the 16 May 2025 meeting include waiving an event of default linked to non-payment of interest due on 10 March 2025 and approving payment of the outstanding interest in four equal instalments, alongside cancelling the immediate repayment requirement and default interest referenced in the representative’s notice. Bondholders will also vote on changing principal repayment from a 25 percent partial repayment scheduled for 9 December 2025 to full repayment of outstanding principal on the 9 December 2026 maturity date, shifting interest payments from quarterly to semi-annual, and increasing the interest rate from 7.75 percent to 7.80 percent per year from 9 June 2025 until maturity. Further proposals include allowing interest payments in instalments at 3 percent per year, with the remaining interest for specified periods deferred and accumulated for payment at maturity or early redemption, and waiving events of default where the issuer revises debt repayment conditions or enters restructuring negotiations with financial institutions or other creditors, including deferrals or adjustments to repayment schedules.

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