A bondholder meeting, also called a noteholder meeting, is a formal gathering of the holders of a bond issue, convened to vote on proposals put by the issuer or by the holders themselves. Typical business includes extending the maturity, changing the coupon, approving a covenant waiver, substituting the debtor, agreeing a debt restructuring or directing the bond trustee to enforce.
The procedure is laid down in the trust deed or bond conditions. Notice is given through the clearing systems, usually at least 21 days ahead. Significant changes require an extraordinary resolution with a high quorum and a majority commonly set at 75% of votes cast. A resolution that is validly passed binds every holder, including those who voted against or did not vote. Holders rarely attend in person; they send voting instructions through their custodians, much like a proxy voting instruction for a shareholder meeting, and their bonds are blocked until the meeting.