Italian-Thai
Development Public Company Limited (ITD) convened the Bondholders’ Meeting No.
1/2026 for five bond series — ITD242A, ITD24DA, ITD24DB, ITD254A, and ITD266A —
on 16 January 2026. Due to an insufficient quorum for certain agenda items as
required under the terms and conditions, the company will reconvene the meeting
again in the form of an E-Meeting on 27 January 2026 at
14:00 hrs. The following matters will be proposed for approval:
(1) Extending the maturity date
by three years from the original maturity date of each series;
(2) Repaying
the principal in four installments as follows:
·
Installments
1–3: 10% of the outstanding amount as of the original maturity date;
·
Installment
4: the remaining outstanding balance.
(3)
Increasing the bond interest rates during the three-year extension period, with
all additional interest payable in a lump sum on the new maturity date or upon
early redemption as follows:
· Years 1–2: an increase of 0.25%
per annum from the original interest rate of each series;
· Year 3: an increase of 0.50% per
annum from the original interest rate of each series.
(4) Amending the terms and conditions
to grant the issuer a call option, allowing redemption of all or part of the
bonds prior to maturity date.
The SEC
requires the bondholders’ representative to provide a clear analysis of the
advantages, disadvantages, benefits, and potential impacts on bondholders for
both approval and disapproval of the proposed matters, including comprehensive
supporting reasons and the opinion of the bondholders’ representative.
Accordingly, the SEC urges bondholders to carefully review all information and
exercise their rights to safeguard their interests. Bondholders should also
seek clarification from the bondholders’ representative to ensure they have
complete and sufficient information before making a voting decision at the
bondholders’ meeting.
Note: Bank of Ayudhya Public Company Limited acts as the
bondholders’ representative for all five series:
- ITD242A: Maturity on 15 February 2026
- ITD24DA: Maturity on 4 December 2026
- ITD24DB: Maturity on 4 December 2026
- ITD254A: Maturity on 29 April 2027
- ITD266A: Maturity on 2 June 2028