Thailand’s largest construction company, which is under investigation for its role in two deadly accidents, won investors’ approval to restructure 14.5 billion baht ($468 million) of debt, offering relief to the cash-strapped builder.
Italian-Thai Development Pcl received bondholders’ consent to extend the maturity of notes by three years, the company said in an exchange filing Wednesday. The debt securities, which were originally due between 2026 and 2028, will carry higher interest and provide partial principal payment before maturity, in return for the approval, it said.