(Jan 28): Thailand’s largest construction company, which is under investigation for its role in two deadly accidents, won investor approval to restructure its outstanding bonds.
Italian-Thai Development pcl received bondholders’ consent to extend the maturity of five notes totalling 14.5 billion baht (RM1.83 billion) by three years, the company said in an exchange filing Wednesday (Jan 28). 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.
Italian-Thai’s restructuring request came weeks after the Thai government ordered the nation’s top construction company by revenue to suspend work at more…