Philip Chalmers

Restructuring and insolvency:

• Advised four of the five steering committee of banks in respect of the US$1.6 billion restructuring of the KBBO Group.
• Advised the steering committee of banks in respect of the US$1.3 billion restructuring of the Finablr plc. 
• Advised the Core Lenders on the AED1.5bn restructuring of Utico FZC, including advising on the super senior facility made available in 2025.
• Advised an ad hoc group of unsecured creditors on the restructuring of JBF Rak.
• Advised the lenders on the proposed restructuring of Ghantout Group.
• Advised one of the joint KSA co-bidders in respect of the distressed takeover of Lamprell Plc, the first Saudi backed take private in the UK. 
• Advised Standard Chartered Bank on the sale to Fidera of a book of a US$300m distressed loan assets in UAE, Oman, Bahrain and Jordan.
• Advised certain lenders in respect of the restructuring of $700 million facilities made available to NMC Health plc.
• Advised Lafarge Emirates Cement on its US$300 million debt restructuring with 12 banks.
• Advised HSBC Bank Middle East Limited in respect of the workout of distressed facilities made available to a local owner of two Grand Millennium branded hotels.
• Advised the lenders in respect of the restructuring of the facilities made available to the Kuiper Group, a sponsor backed oil and gas business.
• Advised various family offices and medium sized businesses in respect of director's duties during the onset of insolvency and the UAE bankruptcy code (including the DIFC and ADGM).
• Part of the Financial Restructuring team advising a pan-GCC retailer in respect of the US$650m restructuring of its conventional and Islamic facilities provided by 13 banks.
• Part of the Financial Restructuring team advising the lenders in respect of the liquidation of Joannou & Paraskevaides LLC, the high-profile collapse of one of the main contractors to the FIFA World Cup 2022.

Corporate finance:

• Advised Emirates NBD Capital Limited as mandated lead arranger and sole bookrunner in respect of the AED2.7bn term facility and AED1.5bn accordion facility made available to Damac Property Dubai LLC on an Islamic and conventional basis in order to support a global data centre development and acquisition strategy. 
• Advised Emirates Integrated Telecommunications Company PJSC (Du) on its AED4.6bn hybrid conventional / Islamic term and revolving credit facilities made available by a syndicate of regional and international banks.
• Advised the mandated lead arrangers on Project Horizon, the US$290m acquisition facilities made available to the Alephya group in order to support future school acquisitions following TA’s majority investment in 2024. This deal won High Yield Debt transaction of the year at the 2024 Bonds and Loans conference.
• Advised Mashreqbank PSC in the provision of US$260 million Islamic working capital facilities to Sharjah National Oil Corporation.
• Advised Mashreqbank and Emirates NBD in respect of the separate AED1bn facilities made available to the Ministry of Finance, Dubai. 
• Advised Kings College Hospital, a private equity backed hospital business, on two facilities made available from Emirates Development Bank. 
• Advised Waha Capital on the debt finance elements of the sale of UAE real estate to Aldar. 
• Advised Waha Capital on certain facilities made available by Emirates Islamic Bank.
• Advised AW Rostamani Holdings Limited in respect of two AED250m revolving credit facilities made available by local and international banks. 
• Advised AW Rostamani Real Estate LLC in respect of a AED300m term loan facility to refinance certain real estate assets.
• Advised Cognita on a number of facilities in order to refinance the acquisition costs of certain schools in the Middle East including: (i) the Horizon schools in 2022; and (ii) the Repton schools in 2024.
• Advised a major family office in respect of the consolidation and restructuring of numerous bilateral facilities made available by a major UAE financial institution. 
• Advised a major UAE financial institution in the provision of a US$100 million bridge loan facility to refinance a family office's real estate investment portfolio.
• Advised Bank Sohar in the provision of a $250m project finance facility to a port authority based in Muscat, Oman.
•  Advised a major Qatari financial institution in the provision of a QAR820m revolving credit facility to Vodaphone Q.P.S.C.
• Advised Qatar Electricity and Water Company on a $300m revolving credit facility made available by a syndicate of international banks.

Real estate finance:

• Advised Emirates NBD Capital Limited as mandated lead arranger and sole bookrunner in respect of the AED2.7bn term facility and AED1.5bn accordion facility made available to Damac Property Dubai LLC on an Islamic and conventional basis in order to support a global data centre development and acquisition strategy. 
• Advised Mashreqbank PSC on the AED450m refinance of the Pullman Hotel, Downtown Dubai.
• Advised Mashreqbank PSC on the AED600m refinance of the Fairmont Hotel, Palm Jumeriah.
• Advised Mashreqbank PSC in respect of the AED500m development facilities in order to fund the development of a 74-storey residential tower at Dubai Marina.  
• Advised Emirates NBD in respect of the AED1bn development facilities made available to ICD in order to finance the Deira Waterfront project.
• Advised either the lenders or the sponsors on the financing of the following UK based hotels: (i) Great Scotland Yard Hotel, London; (ii) London Edition Hotel; (iii) the Lanesborough Hotel; (iv) the Excel Centre Hotels, London; (v) the Caledonian Hotel, Edinburgh; and (vi) the High Holburn Estate.
• Advised a family office on the financing of a number of commercial properties internationally, including: (i) two commercial properties in Guernsey; (ii) commercial office space in Watford; and (iii) five logistics centres in Spain.
• Advised a family office on the financing of the development of luxury branded apartments, Palm Jumeriah.
• Advised lenders on the development financings made available to the following UAE developers: Omniyat, Danube, Emaar, Damac and Select Group.
• Advised a number of UAE developers on development financings including: Azizi, Sohba, Oro24 and Ellington.
• Advised the Qatari lenders on one of the largest financings made by a single Qatari conventional bank in 2020. QAR2,530m term facilities were provided to partially finance the construction and development of "Qetafian Island" a 1,000,000 square feet plot off the shore of Lusail City consisting of a world class waterpark, luxury beach resort, chalets, residential buildings and waterfront villas.
• Advised the mandated lead arrangers on the restructuring of US$700m term facilities provided to a major corporate sponsor in respect of the development of Mazoon Towers in West Bay, Doha.
• Advised the mandated lead arrangers on a QAR1.2 billion conventional and Islamic financing provided by six Qatari banks to a Qatar real estate development company in respect of its development of an extensive retail project in Qatar.  Financing was extended to include a discrete additional Islamic tranche sharing in the common security with existing lenders.
• Advised the lenders on the AED300 refinance of the Bonnington Hotel, JLT.
• Advised Bank Muscat in the provision of an OMR 37m term facility to Eagle Hills for the construction and development of a new Mandarin Oriental outside Muscat, Oman. This transaction was one of the first in Oman to incorporate the escrow account provisions promulgated by Royal Decree No. 30 of 2018.
• Advised the mandated lead arranger on the US$330m conventional and Islamic facilities provided by six Qatari banks to a real estate development company in respect of its development of Vendome Mall in Lusail City, Qatar.
• Advised QNB in respect of a US$50m Islamic facility made available to purchase a residential real estate portfolio in London.
• Advised QNB in the provision of a £8.5m commodity murabaha facility agreement to a prominent sponsor for the purposes of developing a residential and retail space in West London

Private credit, venture debt and funds finance:

• Advised Azizi Developments LLC on the US$200m term facilities made available by Cerberus.
• Advised HSBC Bank Middle East Limited in respect of the AED90m term facilities made available to the Kitopi group, tipped to be the UAE's first unicorn company. This includes advising HSBC on the follow-on facilities to accommodate the private fund, Evolution, supporting Kitopi.
• Advised Silkhaus Holdings Limited, a tech-enabled online lettings business, on two venture debt transactions: (i) first round with Partners for Growth in 2022; and (ii) second round with Stride in 2025.
• Advised First Abu Dhabi Bank PJSC on numerous Holdco financings with ADIA.
• Advised First Abu Dhabi Bank PJSC on a US$100m subscription facility to a co-mingled fund managed by OneIM with credit support to an Abu Dhabi sovereign wealth fund.
• Advised Mashreqbank PSC on the US$50m subscription facility made available to funds managed by Investcorp. This was one of the first Islamic subscription facilities completed in region.

• University of Aberdeen - Postgraduate diploma in Professional Legal Practice, 2013
• University of Aberdeen - Bachelor of Laws, 2012

• Law Society of Scotland
• Law Society of England & Wales

• Philip has been recognised as an Up & Coming lawyer by Chambers Global in both 2023 and 2024. Additionally, he earned the title of Rising Star in the Legal 500 rankings for 2024.

• ‘Philip Chalmers was great to work with - always accessible, highly knowledgeable on his subject matter but also able to understand the wider transaction and be able to provide commercial solutions to the key negotiating points in the transaction.’ – Legal 500 MENA 2024
• "Philip Chalmers is very responsive and proactive." Chambers Global 2024