# SEC encourages PRIME bondholders to actively participate in the upcoming bondholders’ meeting

- Link: https://www.thailand-business-news.com/markets/196773-sec-encourages-prime-bondholders-to-actively-participate-in-the-upcoming-bondholders-meeting
- Published: 2025-02-25T07:17:00+07:00
- Author: SiamNews PR

**SEC urges PRIME bondholders to prepare for the upcoming meeting on 25 February
2025. Topics include default waivers, extending maturity dates, revised repayment
schedules, increased interest rates, and bond redemption before maturity. Bondholders
should analyze all information and consult representatives before voting.**

---

The Securities and Exchange Commission (SEC) encourages bondholders of four PRIME
bond series to review all relevant information thoroughly, exercise their voting
rights at the upcoming bondholders’ meeting, and engage with the bond issuer or 
representatives to obtain clear and sufficient details for an informed decision.
The bondholders’ meeting is scheduled for 25 February 2025.

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Prime Road Power Public Company Limited (PRIME), the issuer of bonds PRIME253B, 
PRIME253A, PRIME25DA, and PRIME25DB, will hold Bondholders’ Meeting No. 1/2025 electronically
on February 25, 2025, at 2:00 PM. The e-meeting will include the following matters
for consideration:

(1) Approving a waiver for an event of default for all four series of bonds when
the bond issuer suggests to the bondholders’ assembly alterations to debt repayment
terms, modifications to the schedule of debt repayments, or any other debt-related
changes;

(2) Prolonging the redemption maturity date for all four bond series by an additional
year beyond the original maturity;

(3) Amending the principal repayment timelines for all four bond series to consist
of two payments, with the first payment amounting to 30 percent of the bond values,
while the second payment will cover the remaining amounts on the extended maturity
dates. (The first payment timelines are as follows: PRIME253B and PRIME253A bonds
by 31 July 2025, PRIME25DA bonds by 2 December 2025, and PRIME25DB bonds by 8 December
2025;

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(4) Raising the interest rate for all four bond series by 0.50 percent per annum
from each series’ original rates, throughout the extended maturity periods; and (
5) Amending the terms and conditions for two bond series – PRIME253A and PRIME25DA–
to allow the bond issuer the authority to redeem the bonds prior to their maturity
dates.

The SEC mandates that bondholders’ representatives evaluate both the advantages 
and disadvantages, as well as the potential impacts on bondholders, in cases of 
approval or rejection of the aforementioned matters. This analysis must include 
supporting reasons and the representatives’ opinions. Bondholders are strongly encouraged
to carefully review this information and actively exercise their rights to safeguard
their interests. Additionally, they should seek clarification from the bondholders’
representatives to obtain complete and accurate information before making a voting
decision during the bondholders’ e-meeting.     

**Source** : [SEC urges PRIME bondholders to exercise their rights at the upcoming bondholders’ meeting](https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=11569&rand=113627)