The Thailand Securities and Exchange Commission (SEC) urged holders of three Siamnuwat Co., Ltd. bond series SNW231A, SNW224A and SNW233A to review available information and exercise their voting rights at an upcoming bondholders’ e-meeting on changes to repayment terms and related waivers. Matters for consideration include extending each bond’s maturity by one year and six months from its original maturity date, partial principal repayments of at least 10 percent of each series’ original principal within one year of the original maturity date with the balance repaid at the extended maturity, and reducing interest to 7.00 percent per year for nine months from the original maturity date with the remaining 1.50 percent per year deferred and payable at the extended maturity (or on early redemption). Bondholders will also vote on exemptions from events of default linked to a breach of a financial covenant requiring an interest-bearing debt-to-equity ratio not exceeding 5:1 in the issuer’s 2025 and 2026 annual financial statements, as well as waivers related to the proposed revisions for the three series (total outstanding principal THB 497.5 million) and any debt restructuring negotiations or agreements with other creditors before or within one year of the meeting. The bondholders’ meeting will be held electronically at 14:00 on 10 October 2025. The SEC requires the bondholders’ representative to assess the benefits, shortcomings and potential impacts of approving or rejecting the proposals and provide supporting reasons, and it encouraged bondholders to seek additional information from the issuer or the representative before voting.

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