White & Case
  Victoria Westcott
Partner
Paris

T: + 33 1 55 04 15 23
F: + 33 1 55 04 15 16
E:
Practice Experience
Victoria works in the Paris office of White & Case where she has been a partner in the Energy, Infrastructure Project and Asset Finance group since 2007. Victoria is the practice head of the Asset Finance group in Paris. Prior to this she spent three years in White & Case's Budapest office and six years in a magic circle law firm in Paris.

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, satelllites, 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 Asset Finance, Victoria's recent experience includes:
  • Advising Société Générale in connection with the export credit supported financing of two container vessels for United Arab Shipping Company;
  • Advising ING, Société Générale, SMBC and Bank of Tokyo Mitsubishi in connection with an EIB guarantee facility to be provided to Turk Telekom;
  • Advising BNPP and Crédit Agricole in connection with a CESCE supported syndicated vessel financing;
  • Advising VTB Bank in connection with a Coface supported Letter of Credit Facility provided to SCAC;
  • Advising a Russian oil company in the financing of a private jet;
  • Advising the equity investors and borrower in the financing of a number of helicopters and aircraft for an Angolan oil project;
  • Advising Société Générale in the French tax lease financing of two LNG carriers for AP Moller Maersk;
  • Advising Société Générale in the Korean ECA supported financing of two container ships for CMA CGM;
  • Advising Société Générale in the Coface supported financing of a Turkish aluminium manufacturer;
  • Advising Société Générale in the French tax leasing of two LNG carriers for Bergesen Worldwide;
  • Advising the mandated lead arrangers in connection with financing provided to Total SA in relation to its participation in the Qatargas project;
  • Advising BNPP and Société Générale in the Coface supported buyer credit export financing of four satellites for SES;
  • Advising BNPP Fortis, as arranger and lender in the Coface and SACE supported export credit financing of two ATR aircraft for Finncomm airlines Oy;
  • Advising Société Générale and Bank of China in the Sinosure supported Export Credit Financing of six Medium Range Product Tankers for Danish shipping company, Torm AS and Torm Singapore Pte., Ltd.;
  • Advising Société Générale, as arranger and lessor, in the restructuring of the financing of two 5,100 teu container vessels under an KEIC supported Italian lease structure for CMA CGM;
  • Advising Société Générale, as arranger and lessor, in the financing of three 7,450 TEU container ship vessels under a French tax lease structure for AP Moller Maersk;
  • Advising Société Générale, as arranger and lessor, in the restructuring of a French lease financing of two 162,400 cbm LNG vessels for BW Gas on time charter to GDF Suez;
  • Advising Société Générale, as arranger and agent in a €318,000,000 secured shipping facility for Bourbon Maritime for the financing of fourteen vessels;
  • Advising Société Générale in the French lease financing of two 8,600 teu container vessels for Maersk BV;
  • Advising Natixis, as lender, in the financing of two Embraer ERJ-195 aircraft for Air Europa;
  • Advising SonAir (subsdiary of Sonangal) on the conclusion of a ACMI agreement with BNPP Fortis in the ECA supported financing of two ATR aircraft for Finncomm Commuter Airlines;
  • Advising Société Générale, as guaranteed lender, in the US Exim Bank supported financing of two 747-400ERF aircraft for KLM;
  • Advising DVB, as lender, in the financing of two Embraer ERJ-195 aircraft for Air Europa;
  • Advising Société Générale, as guaranteed lender, in the US Exim Bank supported financing of two 747-400ERF aircraft for Royal Air Maroc;
  • Advising Société Générale as guaranteed lender, in the US Exim Bank supported financing of two 747-400ERF aircraft for Cathay Pacific;
  • Advising Société Générale, as lessor and junior lender, in the US Exim Bank supported financing of four Boeing 777 aircraft for TAM;
  • Advising Société Générale and Calyon in the ECA supported financing of seven ATR aircraft for Aircraft International Renting (A.I.R) Limited, the leasing subsidiary of TAT SA;
  • Advising Calyon and Natixis, as commercial lenders, in the ECA supported financing of Airbus A320/321/330 aircraft for TAM;
  • Advising Natixis in the JOL financing of three Boeing 737-700 Aircraft for TUI; and
  • Advising Natixis, KfW, Calyon and DVB in the JOL financing of six Boeing 737-500 Aircraft for Air Europa.

In Project Finance, Victoria's recent experience includes:
  • Advising the group of lenders, including AfDB, FMO, BOAD, BIDC, BMCE and AFC, for the financing, design, construction and operation of the Riviera Marcory toll bridge in Abidjan under a concession scheme. A Bouygues-led consortium was the successful bidder for the 30-year concession in 1999, but the financing never closed due to political events. At that time, White & Case LLP represented other lenders, including IFC and Proparco. The project finance structure was amended when the project resumed in 2008;
  • 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 2007" by Project Finance International;
  • 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 2004" by Project Finance International and "European Transport Refinancing Deal of the Year 2004" by Euromoney-Project Finance;
  • 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

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

Awards and Recognition
The M5 Motorway transaction, Project Finance International “EMEA Infrastructure Deal of the Year Award,” 2004 and Euromoney-Project Finance “European Transport Refinancing Deal of the Year Award,” 2004

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