EA bondholders of EA248A series worth 1.5 billion baht, due on August 15, 2024, voted 98.5% in favor of extending the debt for another 9 months and 16 days without being considered a default after seeing the source of cash flow and income from selling electricity of 1 billion baht per month and a clear plan to clear the debt, receiving an increased interest rate from 3.11% to 5% per year, along with increasing collateral. Energy Absolute Public Company Limited (EA) organized a meeting of bondholders of EA248A series worth 1.5 billion baht, due on August 15, 2024. 98.5849% of bondholders voted to approve the extension of the bond maturity date for another 9 months and 16 days, with only 1.4151% disagreeing. As a result, EA248A series bonds are not considered a default and the interest rate is not increased from the original. 3.11%, an additional 1.89%, totaling 5.00% per annum, with interest payable every 6 months (on February 15, 2025 and the maturity date) and an additional security for the debentures. Th e company confirmed that it will pay the interest that is due, only requesting to postpone the redemption of the principal. Mr. Wasu Klomkliang, Chief Financial Officer (CFO) of Energy Absolute Public Company Limited (EA), said that the source of funds used to repay the debentures and interest comes from 1. Cash flow from revenue from solar power plants and wind power plants of approximately 1,000 million baht/month, which is the main cash flow for the company. 2. Capital received from joint ventures with new strategic partners who are interested in investing to develop various projects of the company, which are currently under negotiation. 3. Sale of the company's assets to interested investors, including fundraising through the infrastructure fund. 'EA would like to confirm and certify that the company's business operations are still operating normally and would like to ask all bondholders to be confident that the overall business operation still has a tendency to continuously improve and will have consis tent income,' said Mr. Vasu. This is considered a good starting point for solving EA's short-term liquidity problem after 9 financial institution creditors are ready to support new loans and EA bondholders of EA series EA248A have approved an extension of the debt repayment period. We are confident that the EA bondholders' meeting of EA series EA249A on 14 August will also receive support to consider approving an extension of the debt repayment period. Source: Thai News Agency