Aqua Corporation Public Company Limited (AQUA), the issuer of AQUA25NA bond, will electronically convene Bondholders’ Meeting No. 1/2025 on 30 October 2025 at 14.00 hours to consider the following matters:    

(1) Granting an exemption from an event of default under the terms and conditions for the issuer’s proposal to the bondholders’ meeting to restructure the bond repayment, including an extension of the bond maturity date, an adjustment of the bond interest rate, a partial repayment of the principal, and the approval to enter into any agreements, arrangements, or related documents. Such actions shall be deemed as initiating negotiations or entering into any agreements with any creditor for the purpose of debt restructuring, whether the proposal is submitted to the bondholders’ meeting for AQUA25NA and AQUA275A bonds, including any postponed or subsequent meetings;      

(2) Extending the maturity period for the bond redemption by two years, to be due on 29 November 2027;

(3) Repaying the bond principal in four installments, as follows:

    Installments 1–2: 10 percent of the principal value as of the bond issuance date;

    Installment 3: 15 percent of the principal value as of the bond issuance date.    

    Installment 4: 65 percent of the principal value as of the bond issuance date. 

(4) Increasing the bond interest rate from 6.00 percent per year to 7.00 percent per year throughout the extended maturity period.  

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: 

Asia Plus Securities Co., Ltd. serves as the bondholders’ representative for the AQUA25NA bond, to be due on 30 November 2025.