The Thailand Securities and Exchange Commission published a notice urging holders of Country Group Development Public Company Limited’s CGD213A bonds to study all available information and exercise their rights at the bondholders’ meeting on 10 March 2025, where proposed changes to the bond terms and collateral will be voted on. Items for consideration include extending the maturity by one year and six months to 23 September 2026, increasing the interest rate during the extended period from 7.75 percent per year to 8.00 percent per year, and paying interest partially at 5.00 percent per year while deferring the remaining 3.00 percent per year to be paid on the maturity date or full early redemption, effective from 23 March 2025 (the original maturity date). Bondholders will also consider releasing the mortgage over land and buildings pledged as collateral to facilitate a project financing loan plan, with CGD indicating that if the plan is approved it will repay a portion of the principal of not less than 25 percent of the bond value. The SEC requires the bondholders’ representative to analyse the benefits, shortcomings, and potential impacts on bondholders of approving or rejecting the proposals, with supporting reasons and the representative’s opinion, and encouraged bondholders to seek comprehensive information from the issuer or the representative before voting.

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