Thailand Securities and Exchange Commission called on bondholders in five Italian-Thai Development Public Company Limited (ITD) bond series to exercise their rights and closely review available information ahead of a reconvened bondholders’ meeting on 27 January 2026, including by seeking clarification from the issuer or the bondholders’ representative. ITD is reconvening Bondholders’ Meeting No. 1/2026 as an e-meeting at 14:00 after certain agenda items failed to meet quorum requirements at the 16 January 2026 meeting. The proposals include extending each series’ maturity by three years, repaying principal in four installments (10% of the outstanding amount as of the original maturity date for installments 1–3, with the remaining balance in installment 4), increasing coupon rates during the extension period (an additional 0.25% per annum in years 1–2 and 0.50% per annum in year 3, with additional interest payable as a lump sum on the new maturity date or upon early redemption), and amending the terms to grant the issuer a call option for early redemption of all or part of the bonds. The SEC also required the bondholders’ representative, Bank of Ayudhya Public Company Limited, to provide a clear analysis of the advantages, disadvantages, benefits and potential impacts of approving or rejecting the proposals, including supporting reasons and its opinion, for the ITD242A, ITD24DA, ITD24DB, ITD254A and ITD266A series.

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