Thai TPI to repay some debt

Thai TPI to repay some debt
Published: 01 April 2004

Thai Petrochemical Industry PCL, will issue 11.8 billion new shares for a debt swap at 2.28 baht each and repay some debt with shares in its cement unit, its management team said on Thursday. TPI would repay 10 billion baht of debt with 249 million shares it held in TPI Polene PCL, at 40 baht each, Siri Jirapongphan, a member of the government-appointed TPI management team told Reuters. TPI shares were suspended from trading on Thursday morning trade pending the announcment of the plan.