ITD seeks to defer payment of principal on outstanding debentures
Italian-Thai Development (ITD) announced today (January 8) that it is to request deferment of payment of the principal on its outstanding debentures for two years.
The company has a total of five bond issues outstanding, with a total value of 14.45 billion baht in debentures The request to defer payment is due to the company's financial difficulties. ITD has been struggling with a number of challenges, including the Covid-19 pandemic, rising costs, and delays in project approvals.
Under the proposed deferral, ITD would continue to pay interest on the bonds as normal. The principal would be paid in full two years after the original due date.
The company will hold a meeting with its bondholders on January 17 to discuss the proposed deferral. If the bondholders approve the deferral, it will take effect on March 15.
