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Philip Chalmers

Managing Associate, Corporate Lending and Borrowing
UAE

EXPERTISE

Philip is a Managing Associate in our Finance and Restructuring team in the Middle East. He specialises in conventional and Islamic corporate finance, real estate finance, shipping finance and project finance matters across a range of industries, including construction, telecommunications, infrastructure, energy and utilities, renewables and TMT. He has a particular specialism in debt restructuring mandates.

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

Experience

Advised a major UAE telecommunications company on its AED4.5 billion hybrid conventional / Islamic term and revolving credit facilities made available by a syndicate of four regional and international banks
Advised Mashreq Al Islami, Islamic Banking Division of Mashreqbank PSC in the provision of US$260 million Islamic working capital facilities to Sharjah National Oil Corporation (SNOC)
Advising the steering committee of banks in respect of the US$1.6 billion restructuring of the KBBO Group
Advising the steering committee of banks in respect of the US$1.3 billion restructuring of the Finablr plc
Advised certain lenders in respect of the restructuring and insolvency of NMC Health plc
Advised Lafarge Emirates Cement on its US$300 million debt restructuring with 12 banks
Advising the lenders in respect of the restructuring of the facilities made available to the Kuiper Group, a sponsor backed oil and gas business
Advising a pan-GCC retailer in respect of its US$650 million 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 QAR2.6 billion 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 QAR1.2 billion 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 million 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.
Advised Standard Chartered Bank, Dubai branch in the provision of a US$100 million bridge loan facility to refinance a family office's real estate investment portfolio
Advised Dragon Oil in respect of a US$300 million acquisition facility made available by Standard Chartered Bank
Advised Standard Chartered Bank in respect of a US$100 million revolving credit facility made available to a major financial institution in Qatar
Advised various family offices and medium sized businesses in respect of director's duties during the onset of insolvency and the UAE bankruptcy code
Advised Bank Muscat in the provision of an OMR 37 million 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 Bank Sohar in the provision of a $250 million project finance facility to a port authority based in Muscat, Oman
Advised the Qatari lenders on one of the largest financings made by a single Qatari conventional bank in 2020. QAR2.5 billion 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

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