Latham & Watkins represented a group of Saudi Arabian and international banks in the restructuring of approximately SAR 7.5 billion ($2 billion) of indebtedness of Al-Ittefaq Steel Products Company (ISPC), one of the leading steel manufacturers in the Kingdom of Saudi Arabia. The transaction is the first major corporate debt restructuring in the Kingdom of Saudi Arabia and the largest non-sovereign debt restructuring in the region. The transaction team was lead from the firm’s Riyadh office by Office Managing Partner, Mohammed Al-Sheikh, partner Christopher Langdon and associate Salman Al-Sudairi.
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