Grande
Asset Hotels and Property Public Company Limited (GRAND), the issuer of GRAND257A,
GRAND257B, GRAND259B, GRAND259A, GRAND25OB, GRAND25OA and GRAND25DA bonds, will
electronically convene the Bondholders’ Meeting No. 1/2025 on 21 May 2025 at 14.00
hours to consider the following matters:
(1) Extending the
maturity period for the redemption of all seven bond series by eight months;
(2)
Increasing the interest rate by 0.30 percent per year, throughout the
extended maturity period, as follows:
- For GRAND257A and GRAND25DA bonds,
from 7.25 percent per year to 7.55 percent per year;
- For GRAND25OA
bond, from 7.35 percent per year to 7.65 percent per year;
-
For GRAND257B, GRAND259B and GRAND25OB bonds,
from 7.40 percent per year to 7.70 percent per year;
- For GRAND259A bond, from
7.45 percent per year to 7.75 percent per year.
(3)
Revising the terms and conditions
to include the bond issuer’s obligation to allocate cash flows received from
certain transactions towards the pro rata repayment of the bonds.
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 the seven series of GRAND bonds as follows:
GRAND257A bond due on 14 July
2025;
GRAND257B bond due on 14 July
2025;
GRAND259B bond due on 12
September 2025
GRAND259A bond due on 21 September
2025;
GRAND25OB bond due on 11 October 2025;
GRAND25OA bond due on 12 October 2025;
GRAND25DA bond due on 29 December
2025;