Bloomberg Agency revealed the appointment of ROTHSCHILD to follow up on the restructuring of the Saudi Bin Laden Group.
For more than a year, the company has been conducting the largest debt restructuring in the Middle East.
In previous statements to Al Arabiya channel, Khaled bin Abdul Rahman Al-Quwaiz, CEO of Bin Laden International Holding Group, said that the company is developing a capitalization plan.
While Al-Quwaiz refused to disclose the size of those debts, he said that they are “not far from” 33 billion riyals, and the exposure rate of Saudi banks ranges from 70 to 75%.
He pointed out, at the time, that the aim of the rescheduling is to give the company an opportunity to implement the transformation plan to carry out its business and maximize the value of assets and give the opportunity to implement its strategic plan.