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Practice Experience
Paul is currently in the process of relocating to Tokyo from London. He is a partner in the Energy, Infrastructure, Project and Asset Finance Group with experience in banking and project finance transactions, with a particular focus on oil & gas and power project financings.
Paul spent nine months on secondment to the Project Finance team at HSBC.
Representative transactions include:
- Representation of the sponsors in connection with the US$10.3 billion Barzan gas project to be located in Ras Laffan Industrial City in Qatar. This is one of the most significant oil and gas projects ever undertaken in Qatar and the world’s largest project financing to close in 2011. It will be financed up to 30 percent by equity and 70 percent by banks and export credit agencies through a syndicated loan of US$7.2 billion. This deal was awarded "Global Deal of the Year" by Project Finance Magazine in December 2011, "Middle East Oil & Gas Deal of the Year" by Project Finance International in December 2011 and "2011 Deal of the Year" by Global Trade Review;
- Representation of Nord Stream AG in connection with the construction and €6.5 billion financing of Phase I and Phase II (and the re-pricing of Phase I) of the Nord Stream gas pipeline through the Baltic Sea;
- Representation of the commercial and ECA lenders on the US$2.5 billion 1,200 MW heavy fuel oil fired IPP sponsored by Acwa Power and Kepco in Rabigh, Saudi Arabia;
- Representation of Saudi Aramco in connection with the US$20 billion Ras Tanura Integrated Petrochemical (RTIP) joint venture "giga" project with the Dow Chemical Company;
- Representation of JBIC in connection with a bid for the Taza wind farm in Morocco;
- Representation of the En+ Group in connection with the US$1 billion restructuring of its syndicated and bilateral corporate financing;
- Representation of the Sponsors, Qatar Petroleum and Shell on the US$6 billion Qatargas 4 LNG project financing;
- Representation of the Sponsors, Qatar Petroleum and ConocoPhillips, on the US$5.8 billion Qatargas 3 LNG project financing;
- Representation of the Sponsors, Qatar Petroleum, ExxonMobil and Total, on the US$11.2 billion Qatargas 2 LNG project in Qatar;
- Assisting in advising, as common counsel, JBIC and commercial bank lenders in connection with the US$22 billion project financing of the Sakhalin II (Phase 2) LNG Project in Russia;
- Representation of Banco Santander, BNP Paribas and Société Générale as lead arrangers in the award-winning US$1.7 billion financing of the Odebrecht Norbe VIII and IX offshore oil drillships, to be chartered to Petrobras in Brazil;
- Representation of ING Capital LLC, ING Bank N.V., Banco Santander, S.A., New York Branch, Banco Santander (Brasil) S.A., Grand Cayman Branch, and Banco Itaú BBA S.A., Nassau Branch as lead arrangers in the financing of the FPSO OSX-2 project (Floating Production Storage and Offloading vessel);
- Representation of Banco Santander, HSBC, Deutsche Bank Securities Inc. and Banco do Brasil, as initial purchasers, in a Rule 144A/Regulation S offering of US$1.5 billion of 6.35 percent senior secured notes due 2021 by Odebrecht Drilling Norbe VIII / IX Ltd., a Cayman Islands subsidiary of Odebrecht Óleo e Gás S.A., the oil and gas division of The Odebrecht Group;
- Representation of HSBC and BNP Paribas as lead arrangers in the approximately US$1 billion financing in 2011 of the ODN I and II offshore oil drillships, which included an ECA (GIEK)-supported tranche;
- Representation of ABN AMRO Bank as lead arranger for a syndicate of banks including Citibank, WestLB, Calyon, Société Générale, Natixis, Mizuho, Banco do Brasil, and Banco Santander in the US$534 million financing of the Norbe VI offshore oil drilling platform;
- Representation of Citigroup Global Markets and Santander Investment Securities as lead arrangers in the approximately US$575 million financing of the Alpha Star offshore oil drilling rig;
- Representation of HSBC in connection with a solar power project in the Czech Republic;
- Representation of the international and Nigerian lead arrangers in the US$1.06 billion financing (including US Ex-Im, ECGD, SACE and Gerling NCM covered facilities) of the fourth and fifth trains of the Nigeria LNG Plus Project;
- Representation of the lenders (including JBIC, IFC, DEG, Proparco, CDC, IDC, EDC, and COFACE) in the expansion of the Mozal aluminium smelter project in Mozambique to double its capacity to 500,000 tpa;
- Representation of the project company, Brass LNG, and sponsors Nigerian National Petroleum Corporation (NNPC), Total, ConocoPhillips and Eni in connection with a two-train onshore liquefaction plant estimated to produce 10 million tonnes per annum of LNG in Nigeria;
- Representation of EBRD and IFC in connection with the financing of the SUAL group with the aim of increasing bauxite output at SUAL’s Middle-Timan mine;
- Representation of EBRD in connection with its acquisition of an equity interest in OOO Toyota Motor Manufacturing to finance the entry of Toyota Motor Corporation as a car manufacturer in Russia;
- Representation of EBRD and IFC in connection with a financing to Ukraine's leading petrol chain to support the modernisation and national expansion of the group and assisting in the representation of EBRD in connection with its acquisition of an equity interest;
- Representation of VTBE on two property-backed financings to international real estate companies in the Russian Federation;
- Representation of China Development Bank on a vendor financing to a new mobile telecommunication operator in Poland to finance the first phase of construction of its universal mobile telecommunications system (UMTS) infrastructure;
- Representation of HSBC Investment Bank Holdings plc and LGI Ventures B.V. with regard to their further investment in O3b Networks Limited;
- Representation of HSBC and Société Générale on an export credit agency financing relating to the supply of goods and services to Petrobras for use on its P-54 platform (offshore Brazil);
- Assisting Eskom in connection with its ECA financing programme, including a framework facility agreement with Hermes to purchase equipment, including gas turbines; and
- Assisting on the structuring and coordination of EBRD's trade facilitation programme in Eastern Central Europe.
Bars and Courts
England and Wales, 2004
Education
BA (Hons), (Law with French Law), Keble College, Oxford University, 2000 Diplôme d’études juridiques, Université Panthéon-Assas, Paris II, 1999
Languages
English French
Citizenship
British
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