(Jan 16): 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 (RM1.8 billion) of debt.
Italian-Thai Development PCL will hold an online meeting with bondholders at 2pm in Bangkok on Friday 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 Thursday that his government would terminate Italian-Thai’s contracts of…