Grande Asset Hotels and Property Public Company Limited (GRAND), the issuer of GRAND254A bond, will electronically convene the Bondholders’ Meeting No. 1/2025 on 25 April 2025 at 10.00 hours to consider the following matters:    

(1)  a waiver of an event of default under the terms and conditions for the bond issuer’s modification of the debt repayment and/or negotiations of debt restructuring with financial institutions or other creditors, including any postponements or adjustments to the repayment schedules;       

(2)  a waiver of an event of default under the terms and conditions in the case where the bondholder registrar provides notice to the Thai Bond Market Association less than seven days in advance of the initial closing date of the bondholder register;   

  (3)  an extension of the maturity period for bond redemption for eight months, with the new maturity date set for 27 December 2025;  

(4)  an increase in the interest rate from 7.00 percent per year to 7.30 percent per year, throughout the extended maturity period;

   (5)  a revision of the terms and conditions to include a requirement for the bond issuer to allocate cashflows received from specific transactions toward the pro rata repayment of the bond. 

The SEC requires that the bondholders’ representative analyze 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’ e-meeting.  

Remark: 

Daol Securities (Thailand) Public Company Limited serves as the bondholders’ representative for GRAND254A bond due on 27 April 2025.