Jamie Thomas is an English-qualified partner in the Singapore office of Gibson, Dunn & Crutcher LLP. He is a member of the firm’s Global Finance, Capital Markets, Business Restructuring and Reorganization, Private Equity and Oil and Gas Practice Groups and is head of finance and restructuring in the Singapore office.
Mr. Thomas’ experience spans a range of markets including South and Southeast Asia. His focus is primarily on international finance transactions. He regularly represents sponsors, borrowers and lenders on complex cross-border leveraged and acquisition finance transactions as well as project finance, debt buy-backs, asset-backed lending, receivables financing, and pre-IPO financings.
In addition, he has extensive expertise in reserves-based and other upstream oil & gas financing and financing for energy and commodity sectors and the telecoms industry in Asia. Recently, he has been assisting a number of corporates, private equity funds and other alternative capital providers with alternative capital solutions such as Term Loan B, Unitranche and subscription line financings.
Mr. Thomas also specializes in restructurings, reorganizations and insolvencies. In 2020, Gibson Dunn’s Singapore restructuring team was a finalist for “Restructuring Team of the Year” and won “Restructuring Deal of the Year” for one of its deals at the IFLR Asia-Pacific Awards.
Prior to him and his team joining Gibson Dunn in January 2015, Mr. Thomas was a partner at White & Case, and before that, he spent seven years at Clifford Chance.
Mr. Thomas sits on various finance and restructuring committees in Asia. He is Chair of the Indonesian Steering Committee of the Asia Pacific Loan Market Association (APLMA) and sits on the Singapore Documentation Committee and India Committee of the APLMA. Mr. Thomas is a member of the Law Society of England and Wales.
Mr. Thomas is consistently recognized by leading independent legal directories:
- Ranked by Chambers Asia-Pacific and Chambers Global as a leading lawyer in Banking and Finance for Singapore and Indonesia. He is praised for being a “strategic, commercial thinker” and “an excellent lawyer who can bridge every gap and find solutions” as well as having “a better understanding of local and regional banking regulatory issues than the vast majority of finance lawyers in South-East Asia” by Chambers Asia-Pacific based on client feedback and peer review.
- Recognized by IFLR1000 as a highly regarded individual in Banking and Capital Markets (Debt) for Singapore.
- Recognized by Best Lawyers for his expertise in Banking and Finance for Singapore.
- Recommended by The Legal 500 Asia Pacific in Banking and Finance for Singapore.
- Named in the 2018 list of Singapore Names to Know by Global Restructuring Review.
- 2020: “Restructuring Deal of the Year” by IFLR at its Asia-Pacific Awards.
- 2020: Finalist for “Restructuring Team of the Year” by IFLR at its Asia-Pacific Awards.
- 2019: “Debt Market Deal of the Year” by Asian Legal Business at its SE Asia Law Awards; “Asia Pacific Upstream Oil & Gas Deal of the Year” by IJGlobal at its Asia Pacific Awards; “Indonesian Oil and Gas Deal of the Year” by The Asset at its Triple A Asia Infrastructure Awards.
- 2018: “Asia Pacific Oil & Gas Deal of the Year” by IJGlobal at its Asia Pacific Awards.
- 2017: “APAC Deal of the Year” by the Oil & Gas Council at its Asia Pacific Oil & Gas Awards.
- 2016: “Indonesian Project Finance Deal of the Year” by The Asset at its Asia Infrastructure Awards.
Recent Significant Experience
Mr. Thomas has been lead partner on multiple major award-winning finance and restructuring deals in Asia. For example, he represented:
- In 2019, MAXpower Group Pte Ltd, a power and energy group in Southeast Asia, in the sale of a substantial number of its ordinary shares, all classes of preferred equity and warrants to PT Infra Daya Energia, as well as the restructuring of the bank debt of MAXpower and its subsidiaries, and its power contracts with third parties. This deal was named the “Restructuring Deal of the Year” by IFLR at its Asia-Pacific Awards 2020.
- In 2018, a major Asian oil and gas player on its US$500 million six-year secured revolving reserve-based lending (RBL) facility arranged by the mandated lead arrangers and bookrunners Australia and New Zealand Banking Group, ING Bank and Société Générale. This deal was named the “Debt Market Deal of the Year” by Asian Legal Business at its SE Asia Law Awards 2019, the “Asia Pacific Upstream Oil & Gas Deal of the Year” by IJGlobal at its Asia Pacific Awards in 2019 and the “Indonesian Oil and Gas Deal of the Year” by The Asset at its Triple A Asia Infrastructure Awards 2019.
- In 2017, one of Indonesia’s largest independent exploration and production companies on a pre-production reserves-based loan (RBL) project financing arranged by the mandated lead arrangers and bookrunners Australia and New Zealand Banking Group, ING Bank and Société Générale CIB for the development of Aceh Block A PSC gas fields in Indonesia. This deal was named the “Asia Pacific Oil & Gas Deal of the Year” by IJGlobal at its Asia Pacific Awards 2017.
- In 2016, one of Indonesia’s largest independent exploration and production companies on a secured cross-border acquisition bridge facility arranged by Australia and New Zealand Banking Group Limited to finance the acquisition of a 40% stake in South Natuna Sea Block B from ConocoPhillips. This deal was named the “APAC Deal of the Year” by the Oil & Gas Council at its Asia Pacific Oil & Gas Awards 2017.
- In 2015, one of Indonesia’s largest independent exploration and production companies on its US$200 million Term Facility Agreement with PT Bank ANZ Indonesia, PT Bank DBS Indonesia, PT Bank Mandiri (Persero) Tbk, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation to refinance upstream gas operations in Senoro Field, Senoro-Toili PSC Block, Central Sulawesi. This deal was named the “Indonesian Project Finance Deal of the Year” by The Asset at its Triple A Asia Infrastructure Awards 2016.
- In 2015, Pertamina as the lead creditor in the restructuring of US$1.5 billion of debt owed to various creditors of an aromatics plant at Tuban, East Java, Indonesia owned by PT Trans-Pacific Petrochemical Indotama which was reported to be the largest restructuring of its kind in Indonesia.
- In 2014, Sri Lanka’s premier diversified blue chip corporate conglomerate in respect of raising finance for its Waterfront Development Project which is a multi-use resort that includes a hotel, apartment complex, convention center, retail, entertainment facilities and office space. This transaction is reportedly the largest international borrowing to date by a Sri Lankan corporate in the country’s history and was preceded by Mr. Thomas representing the guarantor and lead arranger of Softlogic Finance’s issue of senior secured non-convertible debentures which were the first ever AAA-rated public issuance in Sri Lanka.
- In 2012 and 2013, HSBC as intercreditor agent of the shared security of the financings supporting Alibaba Group Holding Limited’s successful privatization of Alibaba.com, China’s largest e-commerce company, and the financings supporting Alibaba’s repurchase of half of Yahoo’s 40 percent stake in it for US$7.1 billion. He also advised HSBC as facility agent of the financing by the international banks supporting the privatization. This deal was named 2012 “Take Private Deal of the Year” by China Business Law Journal, “Best China Deal” at the FinanceAsia Achievement Awards 2012, “Deal of the Year 2012” by ASIAN-MENA COUNSEL, “Loan of the Year” at the IFRAsia Awards 2012, “Syndicated Deal of the Year” and “Syndicated Acquisition Finance Deal of the Year” at the APLMA Asia Pacific Syndicated Loan Awards 2013 and “Equity Market Deal of the Year” and “M&A Deal of the Year” at the ALB Hong Kong Law Awards 2013.
- In 2011, Deutsche Bank, as arranger, in a highly structured financing into India for Ackruti City Limited by the issue of offshore fully convertible debentures with a call option, with the money on-lent through onshore optionally partially convertible debentures, and a term loan facility, both secured by onshore security, to onshore project companies for slum redevelopment. This transaction was named “Deal of the Year” by India Business Law Journal and Asian-Counsel. It was also nominated for “Infrastructure and Real Estate Deal of the Year” by IFLR/Asialaw India Awards.
Recent Speaking Engagements and Publications
- Co-author, “Practical Advice for Company Directors facing a Liquidity Crunch,” International Financial Law Review, May 2020.
- Co-author, “Debt Buybacks: Opportunities and Considerations for Private Equity Investors in Asia Pacific,” May 2020.
- Co-author, “COVID-19: Key Issues for Private Credit and Special Situation Investors in Asia-Pacific,” April 2020.
- Co-author, “Coronavirus: Time for Companies to have a Financing Check-up whilst the Black Swan is Circling,” Asian Legal Business, March 2020.
- Co-author, “Coronavirus: Time for Private Equity to have a Financing Check-up,” March 2020.
- Co-presenter, “Alternative capital, Term Loan B and Unitranche financings,” client seminars 2017 and 2018.
- Co-presenting to over 50 companies, financial institutions and alternative capital providers in Dubai, Abu Dhabi, Indonesia and Singapore on alternative capital and debt reprofiling, 2016 – 2017.
- Co-presenting on Iran Sanctions to various financial institutions and oil and gas companies in Indonesia and Singapore, November 2015 and September 2016.
Mr. Thomas gained his degree specializing in oil and petrochemical science at Manchester University in 1994 and he gained his law qualifications (CPE in 1995 and LPC in 1996) from the College of Law with commendation.