Philip Chalmers

EXPERTISE

Philip is an Associate in our Finance team in the GCC. He specialises in conventional and Sharia compliant banking and project finance matters with a particular expertise in local and cross-border real estate finance and debt restructurings. 

Prior to joining our GCC practice Philip worked in the firm's Edinburgh office and completed a secondment in the Corporate Real Estate team at Lloyds Banking Group. 

EXPERIENCE

• Advising the borrower, a Dubai governed backed JV, in respect of its US$200,000,000 debt restructuring with 12 banks. 
• Advising a pan-GCC retailer in respect of its US$650,000,000 restructuring with 13 conventional and Islamic banks. 
• Advising the Qatari 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. 
• Advising the Mandated Lead Arrangers on the restructuring of QAR2,550,000,000 term facilities provided to a major corporate sponsor for the construction and development of Mazoon Towers in West Bay, Doha. 
• Advising the Mandated Lead Arrangers on the QAR1,200,000,000 conventional and Islamic facilities provided by six Qatari banks to a Qatar real estate development company in respect of its development of "Vendome Mall" in Lusail City, Qatar.  
• Advising the Omani lenders in the provision of a US$300,000,000 term and revolving credit facility to Oman Tank Terminal Company LLC, a subsidiary of Oman Oil SAOC, for the construction of an oil handling terminal and refinery. 
• Advising the Qatari lenders on one of the largest financings made by a single Qatari conventional bank in 2020. QAR2,530,000,000 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. 
• Advising Standard Chartered Bank, Dubai branch in the provision of a US$100,000,000 bridge loan facility to refinance a family office's real estate investment portfolio.  
• Advising Bank Sohar in the provision of a $250,000,000 project finance facility to a port authority based in Muscat, Oman. 
• Advising Bank Muscat in the provision of an OMR 37,000,000 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.