Troubled Thai Firm Energy Absolute Gets Nod for Bond Extension
- Maturity of green bonds extended by nine months to June 2025
- Company’s shares have increased 76% so far this week
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Energy Absolute Pcl obtained approval to extend the maturity of 4 billion baht ($116.5 million) of green bonds, providing some relief for the Thai renewable energy company that’s under a fraud investigation. The shares surged the most in more than a decade.
Holders of the debt papers on Friday agreed to push back the maturity period by nine months to June 30, 2025, the company said in an exchange filing on Friday. Along with the extension, Energy Absolute also obtained their approval to pay 1.8% additional interest on the notes, payable every six months. The bonds originally offered 3.2% coupon.