Philip Arcoumanis

Philip Arcoumanis
Associate

LONDON

T: +44 20 7814 8000
D: +44 20 7863 8984

Summary Open

Philip is an Associate in the firm’s Finance group, specialising in the maritime and offshore sectors.

Philip advises banks, financial institutions and owning companies on all aspects of loan and security documentation. He also advises buyers and sellers on sale and purchase transactions and on commercial shipping and offshore matters. He is part of the yacht team. Philip has worked in the Piraeus office of a multinational shipping law firm and also spent time on secondment to a Lloyd’s managing agent, doing corporate and commercial work.

Philip speaks Greek.

Experience Open

    Philip’s experience includes:
    • Advising a number of European banks on loan portfolio transfers for maritime assets.
    • Advising a number of private equity funds on the sale & purchase as well as the employment of a variety of vessels, such as container ships, bulk carriers, crude oil tankers and chemical carriers.
    • Acted for ABN AMRO on a US$60.2m loan facility for JP Morgan to finance two second hand bulk carriers and one MR product tanker newbuilding at SPP Shipbuilding Co Ltd, Korea.
    • Acted for ABN AMRO on $41.7m loan facility to CBC Holding Ltd to finance acquisition to two newbuilding bulk carriers.
    • Advising the banks on the consents and amendments required as a result of the merger between Prestige Cruises and Norwegian Cruise Line.
    • Advising HP Shipping Ltd on a sale and leaseback transaction with All Leisure Group, the AIM listed cruise operator in relation to the Hebridean Princess.
    • Acted for Nordea Bank Norge ASA on US$100m facility, comprising a term loan of US$70m and revolving credit facility of US$30m, made available by Nordea and UniCredit Bank to four Liberian subsidiaries of Intrigue Shipping Inc to refinance indebtedness on five aframax vessels.
    • Acted for Nordea Bank Norge ASA on US$139,750,000 syndicated term loan facility for SCF Tankers to assist SCF in its acquisition of nine ships from Prisco following successful auction bid by SCF.
    • Acted for Nordea Bank Norge ASA on amendments to $100m and $80m facilities to Novoship documenting amendments required as a consequence of the redomocile of Intrigue Shipping Inc from Liberia to Cyprus.
    • Acted for Nordea Bank Norge ASA on a $303m syndicated loan facility to CMB NV to refinance various loan facilities and secured by mortgages over 29 bulk carriers on Belgian, Hong Kong and Liberian flags.
    • Acted for Nordea Bank Norge ASA on upsizing of loan facility to Exmar LPG BVBA (an Exmar/Teekay joint venture) to US$460m secured on 11 LPGs and to finance four further LPG newbuildings
    • Advising Oaktree Capital Management on due diligence and negotiating the acquisition of shares in Torm A/S in connection with the restructuring of Torm’s equity and debt as part of a scheme of arrangement.
    • Providing advice and assistance to a shipowner servicing offshore assets in the Arctic in respect of documenting certain amendments to an existing bareboat charter arrangement with a marine geophysical company.
    • Advising the seller of several SPVs owning newbuilding contracts, with novel repurchase options as additional security for release/satisfaction of performance guarantees.
    • Acted for Scotiabank on a US$36m loan facility for Scorpio Tankers to refinance indebtedness on Marshall Islands registered product tanker STI Rose.

Education Open

  • Kaplan Law School
  • University College London BA Hons, History

Employment Record Open

10/2014: Associate, Watson Farley & Williams
09/2012 – 09/2014: Trainee Solicitor, Holman Fenwick Willan

Publications Open

News Open