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David Miles
Partner
London +44 20 7067 2216 dmiles@cov.com Download V-card

David Miles has extensive experience structuring, advising on, and executing complex, high value financing transactions. He advises clients on a broad array of financing matters, including project finance, general corporate lending, leveraged and other event-driven finance, real estate finance and other structured finance products across a variety of sectors. His clients include lenders, borrowers, sponsors, and government entities and he advises on both conventional and Islamic financing structures.

Prior to joining Covington, Mr. Miles was based in the United Arab Emirates for several years and has also worked in London, Hong Kong, Tokyo, and New York.

  • The club of senior banks on the long-term project financing of the ISTP2 sewage treatment plant project in Abu Dhabi, UAE (Project Finance magazine’s Middle East Waste Water Deal of the Year 2009) together with the subsequent 2016 refinancing.
  • The project company and the sponsor guarantors on the parallel loan facilities provided by commercial banks and an export credit agency to finance the construction of a large-diameter welded steel pipe manufacturing plant in Abu Dhabi, UAE.
  • The project company on the refinancing of the Zayed University PPP Project in Abu Dhabi, UAE.
  • The preferred bidder on the DEWA 800mw PV Solar Project in Dubai, UAE.
  • A bidder on the ADWEA Sweihan Solar Power Project in Abu Dhabi, UAE.
  • The syndicate of commercial banks and the export credit insurer on the financing of the Az Zour North IWPP, the first independent water and power project in Kuwait (Middle East & Africa Power Deal of the Year 2013 – PFI Awards 2014).
  • The project company on the financing of the Shams 1 Solar Powers Project in Abu Dhabi, UAE.
  • The mandated lead arrangers of the project financing of an expansion to a tank storage facility in Fujairah, UAE (EMEA Finance’s Infrastructure deal of the Year 2010).
  • The conventional and Islamic banks on a multi-tranche term financing and advance payment bond issuance facilities for the purposes of the MoI KAP2 project in the Kingdom of Saudi Arabia.
  • The providers of credit support to the issue of private activity bonds to finance the Capital Beltway HOT Lanes PPP Project in Virginia, the U.S. (Project Finance magazine’s North American Project Bond Deal of the Year 2008 and Infrastructure Journal’s Transport Deal of the Year 2009).
  • The lenders on the original bank financing of the Emirates Stadium for the Arsenal Football Club in London.
  • A national oil and gas company on its investment and provision of gas and offtaking arrangements from a gas-to-liquids plant in the Caribbean.
  • The syndicate of commercial lenders and an export credit agency on their financing of a refinery modernization project in Brazil.
  • The syndicate of commercial lenders and an export credit agency on their financing of a floating storage, production and offloading (FPSO) vessel for use in an oil field off Brazil (Project Finance magazine’s Latin American Oil and Gas Deal of the Year 2006).
  • The project company on senior and equity bridge facilities to fund its acquisition of the district cooling business on Al Maryah Island, Abu Dhabi, UAE, together with the amendment and restatement to introduce an Islamic commodity murabaha tranche post-closing.
  • The lender on a term loan facility collateralized by a portfolio of loan obligations managed by a UAE bank.
  • A UAE bank on the sale of its SME loan portfolio.
  • Numerous loans to the treasury function of a leading MENA-based PE firm secured on its interests in various of its managed funds.
  • A leading MENA-based PE firm on a short-term bridge loan to a portfolio company for use to refinance existing debt and purchase a number of offshore marine support vessels, together with the subsequent long-term refinancing and upsizing.
  • The Islamic financier as lead arranger of a dual tranche Islamic murabaha and mudaraba financing for a leading UAE-based private hospital group.
  • Either the lender or the borrower on numerous different margin loan facilities secured on shares listed on, among other exchanges, the LSE, Euronext, ADX, Saudi Tadawul and the DFM.
  • Either the lenders or the borrower on over forty different general corporate purposes facilities to Abu Dhabi sovereign wealth funds or their subsidiaries.
  • Either the lender or the borrower on numerous bank-to-bank facilities advanced to leading MENA-headquartered banks.
  • The mandated lead arrangers on a term loan to a leading UAE-based hospitality group to finance its acquisition of various hotels across Europe.
  • The conventional and Islamic banks as arrangers of a dual tranche conventional and Islamic sherkat-ul-melk facility secured on the Dubai Mall (Islamic Finance News’ Corporate Finance Deal of the Year 2011).
  • The lenders on the financings of various shopping malls located in the UAE.
  • A real estate investment fund on an Islamic ijara financing of the acquisition of three properties on Saadiyat Island, Abu Dhabi, UAE.

Previous Experience

  • Partner in the Banking and Project Finance Practice Group at an international law firm.
  • IFLR1000 (2017)
  • Chambers Global, Banking and Finance (2013-2017)
  • The Legal 500 (2013)