Thai Airways International Pcl’s creditors approved the airline’s debt restructuring plan, paving the way for payment extension and unpaid interest waiver on at least 170 billion baht ($5.41 billion) of its debt, Bloomberg News reported. The plan was backed by 91% of creditors at an online meeting, Kitipong Urapeepatanapong, chairman of Baker & McKenzie in Bangkok, the airline’s legal adviser, said by phone on Wednesday.

BlackRock gave it money. So did Goldman Sachs. Foreign investors had good reason to trust Huarong, the sprawling Chinese financial conglomerate. Even as its executives showed a perilous appetite for risky borrowing and lending, the investors believed they could depend on Beijing to bail out the state-owned company if things ever got too dicey, the New York Times reported. Now some of those same foreign investors may need to think twice. Huarong is more than $40 billion in debt to foreign and domestic investors and shows signs of stumbling.

Global banks are losing share in the $186 billion lending market for Chinese borrowers offshore, falling behind local rivals boosting their presence just as the nation’s corporate sector recovers from the pandemic, Bloomberg News reported. Their portion of such lending has steadily dropped over the past decade, hitting 37% so far this year to May 17, well below the 11-year average of 51%, according to Bloomberg-compiled data. Last year the share fell to 29%, the lowest since at least 2010.