The Thailand Securities and Exchange Commission has urged holders of Sahakol Equipment Public Company Limited’s SQ256A bond to review all available information, exercise their rights at the upcoming bondholders’ meeting, and seek comprehensive details from the issuer or the bondholders’ representative before voting on proposed changes to the bond terms. Items for consideration include an exemption from an event of default relating to the timing of notification of bondholder register closure to the Thai Bond Market Association, a three-year maturity extension to 19 June 2028, and a revised principal repayment schedule in four instalments of 5 percent, 10 percent, 35 percent, and the remaining balance (based on the THB 550 million principal at issuance). Bondholders will also vote on increasing the interest rate from 4.90 percent per year to 6.25 percent per year for the extended period, and allowing early redemption in full or in part on any interest payment date before the extended maturity date. The SEC also required the bondholders’ representative to analyze the benefits, shortcomings, and potential impacts on bondholders under both approval and non-approval scenarios, with supporting reasons. The bondholders’ meeting (No. 1/2025) is scheduled for 6 June 2025 at 14:00 in Bangkok.
Thailand Securities & Exchange Commission 2025-06-04
Thailand Securities and Exchange Commission urges SQ256A bondholders to scrutinize proposed maturity extension and interest rate increase ahead of 6 June vote
The Thailand Securities and Exchange Commission advises Sahakol Equipment Public Company Limited’s SQ256A bondholders to review information and exercise their rights at the upcoming meeting. Key proposals include a three-year maturity extension, revised repayment schedule, interest rate increase from 4.90% to 6.25%, and early redemption options. The SEC mandates the bondholders’ representative to assess these changes' implications.