Saudi Binladin hires Houlihan Lokey for $15 bln debt restructuring

26/04/2020 Argaam

 

Saudi Binladin Group (SBG) hired Houlihan Lokey Inc. as an adviser for its $15 billion debt rescheduling plan, Bloomberg reported, citing a statement from Binladin International Holding Group.

 

The investment bank will assist in a comprehensive review and financial restructuring of SBG’s capital structure.

 

The restructuring is aimed at reorganizing privately-held SBG’s assets into sector-led businesses, streamlining operations, and ramping up activities across key projects and businesses.

 

In December 2019, Saudi Arabia’s biggest construction firm overhauled its top management, delaying plans to appoint an adviser for a proposed $15 billion debt restructuring as its previous chairman and managing director left within months of being appointed.

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