DUBAI, April 15 (Reuters) – Saudi Arabia’s Binladin Group expects to reach an agreement to restructure its debt by the fourth quarter of 2021, Al-Arabiya TV channel reported on Thursday citing CEO Khalid al-Gwaiz.
Saudi banks own 70 percent to 80 percent of the construction group’s debt, he said.
BinLadin’s debt could range between $20 and $30 billion, sources familiar with the matter told Reuters in 2019.
Reporting by Maher Chmaytelli
