The Thailand Securities & Exchange Commission issued a notice to holders of the NRF254A bond, urging them to study all available information and exercise their rights at an upcoming electronic bondholders’ meeting convened by NR Instant Produce Public Company Limited. The meeting will vote on proposed changes to the bond’s terms, including maturity, pricing, repayment scheduling and waivers tied to restructuring actions. Proposals include extending the redemption maturity by two years to 20 April 2027, increasing the interest rate during the extended period from 6.75 percent to 7.00 percent per year, and revising principal repayment to two instalments (10 percent of the bond value on 20 April 2025 and the remaining balance on the new maturity date). Bondholders will also consider waivers of events of default where the issuer engages in debt restructuring negotiations and proposes amendments to the repayment schedule while making instalment repayments, and where the issuer mortgages company assets for purposes including debt repayment, refinancing or restructuring negotiations. The SEC requires the bondholders’ representative to analyse the benefits, shortcomings and potential impacts on bondholders for both approval and non-approval outcomes, with supporting reasons and its opinion. The electronic bondholders’ meeting is scheduled for 18 February 2025 at 14:00, and bondholders are encouraged to seek comprehensive information from the issuer or the bondholders’ representative before voting.

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