The Central Bankruptcy Court of Thailand gave the nod to local telco TT&T’s five-year debt rehabilitation plan in late December, Reuters reported.
The plan includes the restructuring of about Bt26bn (US$864m) in debt, via a debt reduction, a…
The Central Bankruptcy Court of Thailand gave the nod to local telco TT&T’s five-year debt rehabilitation plan in late December, Reuters reported.
The plan includes the restructuring of about Bt26bn (US$864m) in debt, via a debt reduction, a debt-to-equity conversion and repayment, TT&T Chief Executive Suwan Assadanukul was quoted saying.
Creditors, which include state-owned telco TOT and Bangkok Bank, are reportedly owed about Bt61bn (US$2bn). According to Reuters citing Suwan, TT&T was due to repay 5% of debt to creditors within 15 days.
The company could not be reached for comment.
