GRAND Faces Liquidity Crisis; Unable to Pay Bond Interest
Matichon - Economy
Key summary
Grand Asset Hotels & Property Public Company Limited (GRAND) reported on October 27 that it cannot pay interest on its secured bond series 1/2567 (set for redemption in 2571). The outstanding principal is 635.265 million baht, with interest due on October 27, 2569 amounting to 19,319,017.85 baht. GRAND requested a 15-day extension but failed to meet the obligation because asset sales did not yield expected funds. The company is seeking alternative cash sources and will hold a creditors' meeting on October 29, 2569 at 14:00 to discuss debt restructuring options including payment deferrals, interest adjustments, and waiving net-debt-to-equity ratios.
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Official source
Matichon - Economy
Read original ↗https://www.matichon.co.th/economy/news_5950619