The Thailand Securities & Exchange Commission urged holders of the STRD24DA bond issued by Wastech Exponential Company Limited to review all available information and exercise their rights at the upcoming bondholders’ meeting, including by seeking comprehensive details from the issuer or the bondholders’ representative before voting. The SEC also required the bondholders’ representative to analyse the benefits, shortcomings and potential impacts on bondholders of approving or rejecting the proposed resolutions, with supporting reasons and the representative’s opinion. The electronic meeting on 30 May 2025 will vote on proposals including waiving an event of default linked to missed interest due on 10 March 2025 and settling the outstanding interest in four equal instalments, alongside cancelling immediate repayment and default interest requirements referenced in the bondholders’ representative’s notice. Other items include changing principal repayment from a 25 percent partial repayment on the issuance date to full repayment of outstanding principal at maturity, moving interest payments from quarterly to semi-annual, increasing the coupon from 7.75 percent to 7.80 percent per year from 9 June 2025 to maturity, and allowing interest to be paid in instalments at 3 percent per year with the balance deferred and accumulated for payment at maturity or early redemption. Bondholders will also consider a waiver of default in connection with revisions to debt repayment terms or debt restructuring negotiations with financial institutions or other creditors, including related deferrals or adjustments to repayment schedules. Wastech Exponential previously convened a bondholders’ meeting on 16 May 2025 but it failed to meet the quorum under the bond terms and conditions, prompting the reconvened electronic meeting scheduled for 30 May 2025 at 14:00.

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