Rothschild, Moelis Compete for $15 Billion Binladin Debt Revamp

Rothschild & Co. and Moelis & Co. have been shortlisted to advise on restructuring about $15 billion of debt at Saudi Arabia’s biggest construction firm, according to people with knowledge of the matter, Bloomberg News reported. The boutique banks made pitches to Saudi Binladin Group last month for what would be one of the Middle East’s biggest debt revamps, the people said, asking not to be identified because the matter is private. Ken Moelis, the founder and chief executive officer of the eponymous investment bank, traveled to the kingdom to lead the process, one of the people said. Goldman Sachs Group Inc. also pitched for an advisory role, but hasn’t been shortlisted, the people said. No final decisions have been made and Jeddah-based Binladin may decide not to hire an adviser, they said. Read more