NR Instant Produce Public Company Limited (NRF), the issuer of NRF254A bond, will electronically convene the Bondholders’ Meeting No. 1/2025 on 18 February 2025 at 14.00 hours. The e-meeting contains matters for consideration as follows:  

            (1) Extending the maturity period for bond redemption by additional two years, with the new maturity date set for 20 April 2027;

    (2) Increasing the interest rate from 6.75 percent per year to 7.00 percent per year, during the extended maturity period; 

            (3) Revising the principal repayment schedule to two installments, with the first installment totaling 10 percent of the bond value to be paid on 20 April 2025, and the second installment to cover the remaining balance on the extended maturity date;  

            (4) Granting a waiver from an event of default under the Terms and Conditions in cases where the bond issuer engages in debt restructuring negotiations with financial institutions, proposes amendments to the debt repayment schedule at the bondholders' meeting, and makes installment repayments of the bond principal; 

            (5) Granting a waiver from an event of default under the Terms and Conditions in cases where the bond issuer mortgages the company’s assets, including but not limited to securing debt repayment, refinancing, or negotiating waivers or modifications for debt restructuring with financial institutions.

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: Bank of Ayudhya Public Company Limited serves as the bondholders’ representative for the NRF254A bond due on 20 April 2025.