The Thailand Securities and Exchange Commission urged bondholders in three Jasmine Technology Solution Public Company Limited (JTS) bond series to review all available information and exercise their voting rights at upcoming bondholders’ meetings, which will consider waivers of events of default and proposed changes to repayment terms. The meetings were re-scheduled after an 8 May 2025 meeting did not reach quorum under the bonds’ terms and conditions. For JTS254A, the agenda includes waiving an event of default tied to non-payment of principal and interest due on 8 April 2025, cancelling the immediate repayment obligation and default interest, extending maturity by one year and three months to 8 July 2026, restructuring principal repayment into four instalments with the first three totalling at least 43 percent of the bond value on the issuance date, and increasing the interest rate from 6.25 percent to 7.00 percent per year for the extended period. For JTS272A and JTS282A, proposed resolutions include waiving events of default linked to JTS’s failure to pay more than THB 300 million of JTS254A principal and to the issuer’s proposal to defer or alter the debt repayment schedule. The SEC also required the bondholders’ representative to analyse the benefits, shortcomings, and potential impacts on bondholders under both approval and rejection scenarios, with supporting reasons and the representative’s opinion. The e-meeting for JTS254A is scheduled for 16 May 2025 at 14:00, and the e-meeting for JTS272A and JTS282A is scheduled for 20 May 2025 at 14:00.

Original source View in tracker