The Thailand Securities and Exchange Commission has urged holders of Aqua Corporation Public Company Limited’s AQUA275A bond to review all available information and exercise their rights at the electronic bondholders’ meeting scheduled for 6 November 2025, where investors will vote on proposed waivers and changes to the bond terms. The SEC also directed the bondholders’ representative to provide an assessment of the benefits, shortcomings and potential impacts on bondholders under both approval and rejection scenarios. At the meeting, bondholders will be asked to grant exemptions from events of default related to shortened timelines for closing the bondholder register and issuing notices for convening the meeting. A further exemption is sought for the issuer’s proposal to restructure repayment, including extending maturity, adjusting interest, partially repaying principal and approving related documentation, with these steps treated as debt restructuring negotiations with creditors. The issuer is seeking approval to extend the redemption date by six months and 16 days to 30 November 2027, repay principal in two instalments of 10 percent and 90 percent of the principal value as of the issuance date, and increase the interest rate by 0.25 percentage points from 7.25 percent to 7.50 percent per year over the extended period. Consideration of the term changes is linked to an earlier AQUA25NA bondholders’ meeting held on 30 October 2025, with the AQUA275A agenda to proceed when the AQUA25NA meeting has passed a resolution approving the extension, interest-rate increase and instalment principal repayments, including any adjourned meeting.
Thailand Securities & Exchange Commission 2025-11-03
Thailand Securities and Exchange Commission urges AQUA275A bondholders to assess proposed restructuring ahead of 6 November vote
The Thailand Securities and Exchange Commission advises Aqua Corporation's AQUA275A bondholders to review information and join the electronic meeting on 6 November 2025 to vote on waivers and bond term changes. The SEC instructed the bondholders’ representative to assess implications of approving or rejecting proposals, including default event exemptions, restructuring repayment terms, and extending the redemption date to 30 November 2027. The agenda depends on the AQUA25NA bondholders' meeting outcome on 30 October 2025.