White & Case
 
Victoria Westcott
Partner
Paris

T: + 33 1 55 04 15 23
F: + 33 1 55 04 15 16
E:
Practice Experience
Victoria is a partner in the Energy, Infrastructure Project and Asset Finance group of White & Case in the Paris office.

Victoria specialises in the fields of project finance, asset finance and export finance.

In project finance, Victoria has developed a particular expertise in motorway and other infrastructure projects and in the energy sector, whilst in asset finance Victoria's practice covers aircraft, shipping finance, satellites, equipment and other large assets.

Victoria's work involves leasing transactions, financing and tax-driven structures, secured and unsecured syndicated lending, PPP and concession based financing and export credit financing.

Victoria works regularly with lenders, investors, sponsors, borrowers and export credit agencies.

In Project Finance, Victoria's recent experience includes:
  • Advising Natixis in the COFACE supported financing provided to the Republic of Gabon for the purchase and installation of public street lighting equipment provided by Bouygues Energies & Services;
  • Representing IFC, EBRD, Proparco, DEG and a group of commercial banks in the PPP financing of a hospital in Turkey;
  • Representing Strabag and Intertoll in connection with their bid submission and financing in respect of the privatisation of the Croatian motorways;
  • Representing Intertoll in connection with its bid submission for the operation and maintenance of the M11 motorway in Russia;
  • Advising Olympique Lyonnais, the French association football club, on the financing the development and the construction of the new stadium, Stade des Lumières, in Lyon;
  • Advising the sponsor (Eneria) in the structuring and financing of a biomass fuelled cogeneration plant in France;
  • Advising the lenders in respect of the financing for the consortium composed of Meridiam Infrastructure, Rönesans and Sila Health Services for the Adana Integrated Healthcare PPP Project in Turkey;
  • Advising a French sponsor in connection with project financing of the construction of a new oil and gas platform to expand its existing operations in the Ivory Coast, including the implementation of MIGA coverage and a Partial Risk Guarantee from the World Bank and further advising the same sponsor in the acquisition and financing of its joint venture partner's interest in the project;
  • Advising Intertoll regarding the negotiation of operation and maintenance contract of the Gebze-İzmir Motorway Project in Turkey;
  • Advised Lenders of a Consortium led by Bouygues Travaux Publics (including AfDB, PAIDF, BOAD, EBID, AFC, BMCE Bank and FMO) for the financing, design, construction and operation of a toll bridge in Abidjan under a concession scheme with a debt and equity coverage from MIGA. This transaction was awarded “African Transport Deal of the Year 2012” by Project Finance;
  • Advising the lenders supporting a consortium composed of Atlantia (Autostrade per l'Italia) and six of its partners, for the design, construction, financing and operation of a new tolling system, "Ecotaxe", for experimentation to be first implemented in Alsace and subsequently implemented all over France for the heavy weight vehicles using the French national road network. This transaction was awarded "PPP Deal of the Year" by Project Finance International 2011 and "Technology Deal of the Year" by Project Finance 2011;
  • Advising the finance providers of Strabag AG in connection with the E18 motorway project in Finland;
  • Advising Banca IMI, Unicredit, Mediobanca and Deutsche Bank as mandated lead arrangers and financiers of the Autrostrade led consortium in connection with the Ecotaxe project in France;
  • Advising EIB and a group of 8 commercial banks, as mandated lead arrangers and financiers, of the Colas led consortium in connection with the A63 Motorway in France;
  • Advising a group of 21 banks including EIB and EBRD as mandated lead arrangers of the consortium formed by Bouygues, Colas, Mota-Engil, DTP Terrassement, Intertoll, Meridiam Infrastructure, Doprostav and Vahostav in the D1 and R1 motorway projects in Slovakia;
  • Advising EBRD, HSBC, KfW, Fortis Bank and Bank of Scotland in the project financing of the M6 Phase 3 Motorway in Hungary for the consortium composed of Bouygues, Colas and Strabag. This transaction was named "PPP Deal of the Year" by Project Finance International 2007;
  • Advising Bouygues, Strabag and Colas in connection with the tender offer for the financing of the E75 motorway in Serbia;
  • Advising EBRD, WestLB and Banco Espirito Santo in connection with the financing of the M5 motorway in Hungary. This transaction was named "European Infrastructure Deal of the Year" by Project Finance International 2004 and "European Transport Refinancing Deal of the Year" by Euromoney-Project Finance 2004;
  • Advising Verbund in connection with the financing of two CCGT power plants in France;
  • Advising Éléctricité de France in connection with its acquisition of one of the leading power companies in Hungary and with the financing of a newly constructed power plant; and
  • Advising EBRD in the financing of eight hypermarkets for the Cora Group in Hungary.

In Asset Finance, Victoria's recent experience includes:
  • Advising Societe Generale and La Banque Postale in connection with the financing of two Airbus aircraft for Thai Airways;
  • Advising Societe Generale in connection with the ECA supported financing under an Italian tax lease structure of two airbus aircraft for Turkish Airlines;
  • Representation of Société Générale and the BRED as arrangers, tax investors and lenders in the refinancing of a cruise vessel for luxury French cruise operator Compagnie du Ponant;
  • Assisting Société Générale in the unwind and aircraft purchase of two A340 aircraft on lease to Cathay Pacific;
  • Representation of Société Générale and La Banque Postale in connection with the export credit supported financing of one Airbus A380 aircraft for Thai Airways;
  • Representation of Société Générale and Calyon in the SACE/Coface supported financing of seven ATR aircraft for Aircraft International Renting (A.I.R) Limited, the leasing subsidiary of TAT SA;
  • Representation of Société Générale in connection with the SACE/COFACE supported financing of two ATR 72-212A aircraft for Xinjiang Airlines;
  • Representation of the Arrangers in a €318 million secured shipping facility for Bourbon Maritime for the financing of 14 offshore service vessels;
  • Representation of the Arrangers in a €250 million secured FRSU financing under time charter to a Gulf based operator;
  • Representing La Bred and Société Générale in connection with tax lease financing of a luxury cruise vessel for Compagnie de Ponant;
  • Representation of the Arrangers and the French Tax Investor in connection with the export credit supported French tax lease financing of two container vessels for United Arab Shipping Company;
  • Representation of the Arrangers in connection with a CESCE export credit supported Subsea Pipelay construction vessel financing for McDermott Inc.;
  • Representation of the Arrangers and the French Tax Investor in the French tax lease financing of two LNG carriers for AP Moller Maersk under time charter to Total SA;
  • Representation of the Arrangers in the KEIC supported financing of two 4250 teu container ships for CMA CGM;
  • Representation of the Arrangers and the French Tax Investor in the French tax leasing of two 162,400 cbm LNG vessels for BW Gas on time charter to GDF Suez;
  • Representation of the Arrangers in the Sinosure supported Export Credit Financing of six Medium Range Product Tankers for Torm AS and Torm Singapore Pte., Ltd. and in the subsequent restructuring of the Torm Group;
  • Representation of the Arrangers and the Investor, in the financing of two 5,100 TEU container vessels under an KEIC supported Italian lease structure for CMA CGM;
  • Representation of the Arrangers in the financing of three 7,450 TEU container ship vessels under a French tax lease structure for AP Moller Maersk;
  • Representation of the Arrangers in the French tax lease financing of two 8,600 TEU container vessels for Maersk BV; and
  • Representation of the Arrangers in connection with the French Coface supported credit financing of a cruise vessel for Royal Caribbean Cruise Lines.

Bars and Courts
Solicitor of England and Wales
Avocat au Barreau de Paris

Education
Admitted as Avocat, 1998
Admitted as Solicitor, 1994
LLM, European Legal Studies, 1992
Law Society Finals, 1991
LLB, Law, 1990

Publications
"Coface, les Financements aériens" French Banking and Finance Law Revue, December 2010
"A Framework for Slovak Roads", Project Finance International, September 2008
"An Uncertain Environment", the effects of the entry into force of Hungary’s Electricity Act 2001 implementing the European Electricity Directives and the liberalization of the Hungarian electricity sector, Energy International, February 2003

Languages
English
French

Citizenship
British