Italian-Thai Development is grappling with a liquidity crunch that has forced it to offload its overseas investments
[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 of debt.
Italian-Thai Development will hold an online meeting with bondholders at 2 pm in Bangkok on Friday (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…