The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

TPI pleads capital dearth in restructuring

Thai Petrochemical Industry is Thailand’s biggest restructuring headache. And if it is going to pull itself out of trouble, its managers claim that it needs access to large amounts of working capital. But that is not forthcoming.

       
TPI needs the stevedores to move more oil drums
in Bangkok

Mired in debt, Thai Petrochemical Industry is Thailand's biggest restructuring headache. Central to the problem is a perceived difference over strategy between TPI's management and recovery practitioner Ferrier Hodgson. If TPI is to pull itself clear of trouble, its managers claim, it needs access to large amounts of working capital that are not currently forthcoming.


TPI is Thailand's largest defaulting corporate debtor. It owes $2.9 billion in principal and $800 million in accrued interest, in eight currencies, to some 150 creditors from 40 countries.


Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree