Thailand Securities and Exchange Commission urges CMC257A bondholders to assess proposed maturity extension and repayment changes ahead of 4 July meeting

The Thailand Securities and Exchange Commission issued a notice to holders of Chaoprayamahanakorn Public Company Limited’s CMC257A bond urging them to review all available information and exercise their rights ahead of the upcoming bondholders’ meeting, including seeking sufficient details from the issuer and the bondholders’ representative before voting on proposed amendments to the bond terms. The meeting agenda includes extending the bond’s maturity by nine months to 13 April 2026 and splitting principal repayment into four instalments, with the first and second instalments at 5 percent each of the principal value as of the bond’s issuance date, the third at 10 percent, and the fourth covering the remaining balance, with the issuance-date principal stated as THB 416 million. It also includes increasing the interest rate by 0.10 percentage points from 7.30 percent to 7.40 percent per year throughout the extended maturity period and reducing the minimum amount of each partial early repayment from not less than 20 percent to not less than 10 percent of the issuance-date principal. The SEC requires the bondholders’ representative to analyse the benefits, shortcomings and potential impacts on bondholders under both approval and non-approval outcomes, with supporting reasons and the representative’s opinion. Chaoprayamahanakorn will convene the bondholders’ meeting electronically on 4 July 2025 at 10:00.