The Thailand Securities and Exchange Commission has urged holders of three East Coast Furnitech Public Company Limited bond series to study all available information and exercise their rights at an electronic bondholders’ meeting on 17 April 2025, ahead of votes on proposed changes to the bonds’ terms. The issuer is seeking bondholder approval to extend maturities for ECF256A and ECF246A by one year and six months and for ECF262A by nine months, to increase interest rates during the extended periods to 7.50 percent per year for ECF256A and ECF246A (from 7.30 percent and 7.40 percent) and to 7.70 percent per year for ECF262A (from 7.60 percent), and to change interest payments from quarterly to semi-annual. The SEC also required bondholders’ representatives to analyse the benefits, shortcomings and potential impacts for bondholders under both approval and non-approval scenarios, with supporting reasons and the representatives’ opinions.
Thailand Securities & Exchange Commission 2025-04-16
Thailand Securities and Exchange Commission urges ECF bondholders to review information and vote on proposed maturity extensions, rate increases and payment schedule changes
The Thailand Securities and Exchange Commission advises bondholders of three East Coast Furnitech Public Company Limited bond series to review information and join an electronic meeting on 17 April 2025 about proposed term changes. The issuer seeks approval to extend maturities and adjust interest rates and payment schedules. Bondholders’ representatives must evaluate these changes and provide their analysis and opinions.