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Creditors give vote of confidence for Thai mobile phone operator.

Bangkok Post (Bangkok, Thailand)

| October 01, 2004 | COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Oct. 1--Nine creditors, four of which are new foreign lenders, have unconditionally rescheduled 34 billion baht in debts for TA Orange, saying they are confident in the mobile phone operator's loan repayment prospects and positive business growth potential.

Once long-term refinancing has been locked in, the company will seek a strategic partner for a 20-25 percent stake that would allow it to expand aggressively into the hyper-competitive mobile phone market and bolster synergies within the group.

The creditors, which include the World Bank's private-sector arm International Finance Corporation (IFC), KfW of Germany, Coface of France, WestLB, Bangkok Bank, Kasikorn Bank, Krung ...

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