Chayo Group Public Company
Limited (CHAYO), the issuer of CHAYO25NA, CHAYO263A, CHAYO26OA, CHAYO273A and CHAYO279A bond series, will electronically convene the Bondholders’
Meeting No. 2/2025 on 16 October 2025 at 14.00 hours. The matters for
consideration are as follows:
(1)
Extending the redemption maturity periods for all five bond series by
additional two years, and dividing the principal repayment into two
installments; The first installment, totaling at least 10 percent of the
current unredeemed bond value, will be made on the original maturity date, and the
second installment will repay the entire remaining balance on the extended
maturity date;
If the bondholders’ meeting resolves not to approve the matter under
item (1), the company will not propose the matters under items (2) and (3) for
consideration and approval by the bondholders’ meeting. In such case, the
company will be required to repay the principal with interest as specified in
the original terms and conditions.
(2) Increasing the bond interest
rate by 0.25 percent per year throughout the extended maturity periods, as
follows:
- For CHAYO25NA bond series, from the
original rate of 6.00 percent per year to 6.25 percent per year;
- For CHAYO263A bond series, from
the original rate of 6.05 percent per year to 6.30 percent per year;
- For CHAYO26OA and CHAYA273A bond
series, from the original rate of 6.25 percent per year to 6.50 percent per
year;
- For CHAYO279A bond series,
from the original rate of 6.40 percent per year to 6.65 percent per year;
CHAYO
will propose the bond interest rate increase for consideration upon the
bondholders’ approval of the extension of the redemption maturity periods under
Item (1).
(3)
Revising the terms and conditions by imposing additional obligations on the
bond issuer, as follows:
(3.1) Requiring the company to apply at
least 70 percent of the proceeds received from the disposal of 17
non-performing loans (NPLs) and non-performing assets (NPAs), after deducting
related expenses, to partial repayment of the bonds in the first installment.
The remaining 30 percent will not be counted as part of operating proceeds
required to be deposited into the debenture fund for bond repayment as
specified in Item (3.2);
(3.2) Requiring the company to deposit
at least 50 percent of the net proceeds received from operations, after
deduction of related expenses, on a monthly basis, into the debenture fund to
be accumulated for partial repayment of the bonds.
The SEC
requires that the bondholders’ representative analyzes the benefits and
shortcomings as well as the potential impacts on the bondholders both in cases
of approval and decline of approval for the above matters with respective
supporting reasons and the opinions of the bondholders’ representative. The
bondholders are, therefore, encouraged to thoroughly review the information and
exercise their rights to protect their own interests. They should also make
necessary inquiries to the bondholders’ representative to obtain comprehensive
information before making a voting decision at the bondholders’ meeting.
Note:
*
CHAYO279A bond series has already received approval for the said matter from
the bondholders’ meeting convened on 8 August 2025.
**
CHAYO25NA bond series in an amount of not more than 450 million baht, CHAYO263A
bond series in an amount of not more than 700 million baht, CHAYO26OA bond
series in an amount of not more than 845 million baht, CHAYO273A bond series in
an amount of not more than 864 million baht, and CHAYO279A bond series in an
amount of 987 million baht.
Asia Plus Securities Public Company Limited serves as the bondholders’
representative for all five bond series, as follows:
-
CHAYO25NA bond series, to be due on 20 November 2025
-
CHAYO263A bond series, to be due on 29 March 2026
- CHAYO26OA bond series, to be
due on 6 October 2026
- CHAYO273A bond series, to be
due on 15 March 2027
-
CHAYO279A bond series, to be due on 6 September 2027