The Thailand Securities and Exchange Commission (SEC) published a notice urging bondholders in seven series of East Coast Furnitech Public Company Limited (ECF) bonds to review available information and exercise their rights at an electronic bondholders’ meeting on 9 April 2025, as the issuer seeks approvals related to debt repayment changes and restructuring. Items for consideration include an exemption from an event of default linked to modifying repayment terms and engaging in debt restructuring negotiations with other creditors, plus maturity extensions for six series: ECF255A, ECF255B, ECF256A and ECF246A by one year and six months, ECF262A by nine months, and ECF265A by six months. ECF is also seeking approval to increase coupon rates during the extended periods to 7.50 percent per year for ECF255A, ECF255B, ECF256A, ECF246A and ECF265A, and to 7.70 percent per year for ECF262A, to change interest payments from quarterly to semi-annual, and to waive the requirement for a credit rating review and related reporting. For ECF28NA, the meeting invitation indicates no request for a maturity extension or interest-rate adjustment, citing its 17 November 2028 maturity and step-up interest rate. The SEC requires bondholders’ representatives to assess the benefits, shortcomings and potential impacts on bondholders of approving or rejecting the proposals, with supporting reasons and the representatives’ opinions, and encourages bondholders to seek comprehensive information from the issuer or representatives before voting.

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