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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 ...