BANGKOK – A Thai construction company under investigation over its role in
two fatal crane crashes
that killed 34 people earlier this week is seeking investor consent to restructure about US$446 million (S$574 million) of debt.
Italian-Thai Development will hold an online meeting with bondholders at 2pm in Bangkok (3pm Singapore time) on Jan 16 to request an extension of the maturity of five series of notes by three years as part of a broader restructuring effort.
The efforts come a day after the Thai government ordered the nation’s largest construction company by revenue to suspend work at more than a dozen infrastructure projects.
Prime Minister Anutin Charnvirakul said on Jan 15 his government would terminate Italian-Thai’s…