Thailand Securities and Exchange Commission (SEC) urged bondholders in Eastern Power Group Public Company Limited’s EP259A and EP249A series to review all available information, exercise their rights at forthcoming bondholders’ meetings, and seek additional details from the issuer or the bondholders’ representative before voting on proposed changes to the bonds’ terms. The SEC also required the bondholders’ representative to analyse the benefits, shortcomings and potential impacts on bondholders under both approval and non-approval scenarios, with supporting reasons and its opinion. For EP259A, the meeting will consider extending the redemption maturity by one year to 30 September 2026 and increasing the interest rate from 5.75 percent per year to 6.25 percent per year for the extended period in line with the terms and conditions. For EP249A, proposals include an exemption from an event of default related to prior bondholder approvals to extend maturities for EP249A, EP24DA and EP253A, which may be viewed as entering into a debt restructuring arrangement involving repayment deferrals with aggregate debt exceeding THB 500 million, as well as extending EP249A’s maturity by six months to 14 March 2026 and increasing the interest rate from 5.75 percent per year to 6.00 percent per year during the extended period. Eastern Power will hold Bondholders’ Meeting No. 2/2025 for EP259A on 28 August 2025 and Bondholders’ Meeting No. 3/2025 for EP249A on 2 September 2025 at 14.00 hours in a hybrid format, with a physical venue at Miracle Grand Hotel in Bangkok. The SEC encouraged bondholders to make necessary inquiries to the bondholders’ representative to obtain comprehensive information ahead of voting.

Original source View in tracker