Home Industry Construction Saudi Binladin group hires Houlihan Lokey for $15bn debt revamp The restructuring is aimed at reorganising Binladin’s assets into sector-led businesses and streamlining operations by Bloomberg April 26, 2020 Saudi Binladin Group hired Houlihan Lokey Inc. as an adviser to help the kingdom’s biggest construction firm to restructure an estimated $15bn of debt. The investment bank will assist in “a comprehensive review and financial restructuring of SBG’s capital structure,” according to a statement from Binladin International Holding Group. The restructuring is aimed at reorganising privately-held Saudi Binladin’s assets into sector-led businesses, streamlining operations, and ramping activities across key projects and businesses, it said. Binladin — for decades Saudi Arabia’s go-to developer for mega-projects such as airports and holy sites in Makkah and Madinah — is restructuring debt after the government delayed payments to contractors. The company’s top management has been overhauled several times in the past with Abdulaziz Al-Duailej joining as chairman in September, replacing Khalid Nahas who was in the role for about seven months. It appointed Khalid Al Gwaiz as the chief executive officer in March. Rothschild & Co. and Moelis & Co. were shortlisted to advise on the debt revamp, people with knowledge of the matter said in October. Tags Abdulaziz Al-Duailej Construction Debt Houlihan Lokey Khalid Al Gwaiz restructuring revamp Rothschild & Co Saudi Saudi BinLaden 0 Comments You might also like Building on growth: Dubai developers share key real estate trends Emaar Development reports 56% rise in property sales for H1 Saudi Arabia to raise stake in Binladin Group to boost construction sector Dubai South Properties’ Nabil Al Kindi on supporting the emirate’s grand vision