Thai Polycons Public Company Limited (TPOLY), the issuer of TPOLY26NA bond, will electronically convene the Bondholders’ Meeting No. 1/2025 on 24 April 2025 at 10.00 hours to consider the following matters:    

(1) granting a waiver of an event of default under the terms and conditions in the case where the company is unable to arrange for the bondholder registrar to notify the Thai Bond Market Association at least seven days prior to the initial closing date of the bondholder register;     

(2) revising the required collateral coverage ratio in the categories of common shares of TPC Power Holding Public Company Limited (TPCH) and real estate assets (land and buildings), in relation to the total outstanding bond value, as follows: from not less than 1.4 times throughout the bond term to not less than 1.0 time during the period from 15 April 2025 to 15 January 2026; not less than 1.2 times from 15 January 2026 to 15 July 2026; and maintaining not less than 1.4 times from 15 July 2026 until the bond maturity date. The bond interest rate shall be increased from 6.25 percent per year to 6.50 percent per year for the period in which the revised collateral coverage ratios apply (from 15 April 2025 to 15 July 2026). 

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:  

Beyond Securities Public Company Limited serves as the bondholders’ representative for TPOLY26NA bond due on 9 November 2026.