The Thailand Securities & Exchange Commission published an update on Chayo Group Public Company Limited’s CHAYO273A and CHAYO279A bondholders’ meeting, noting that the 29 July 2025 meeting failed to reach quorum and will be reconvened electronically on 8 August 2025. Bondholders will be asked to vote on proposed changes including a two-year maturity extension with staged principal repayment, a conditional interest-rate step-up, a new repayment obligation linked to land-sale proceeds, and the right for the issuer to prepay without fees. Under the proposal, principal would be repaid in two instalments, with at least 10 percent of the unredeemed bond value paid on the original maturity date and the remaining balance repaid on the extended maturity date. If bondholders approve the maturity extension, CHAYO would then propose increasing the annual coupon by 0.125 percentage points over the extended period, from 6.25 percent to 6.375 percent for CHAYO273A and from 6.40 percent to 6.525 percent for CHAYO279A, and adding an obligation to allocate at least 50 percent of net proceeds from the sale of land on Koh Yao Yai in Phang Nga Province (after expenses) to repay all bond series for which extensions are approved. The SEC requires the bondholders’ representative to analyse the benefits, shortcomings and potential impacts on bondholders under both approval and non-approval scenarios, including supporting reasons and the representative’s opinions, and encouraged bondholders to review the information and make enquiries before voting at the reconvened meeting.

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