“Christophe Wauters has an exceptional capacity to negotiate detailed lending provisions without losing sight of the broader picture of a deal. He has great judgement on opportunity versus cost.” (Chambers Global, 2025)
“He is deeply involved, very experienced and very good at what he does.” (Chambers Global, 2025)
Christophe has been featured in Chambers Global in the “Spotlight” category for “Africa-wide Banking & Finance” work.
Biography
Christophe Wauters is a partner in Global Debt Finance Practice and Financial Services Regulatory Practice and member of the Brussels Transactional Group.
He focuses on financing, debt restructuring, and bank regulation. With extensive experience across a broad range of debt financing products, Christophe advises corporates and sovereigns on a wide variety of international and emerging markets financing transactions and restructurings.
He is primarily involved in sovereign debt financing, cross-border project finance, structured trade finance, direct lending, and syndicated lending in Belgium and across Africa. Christophe has also played a key role in major bail-outs and restructurings of European financial institutions, high-yield bond offerings, and sovereign debt restructurings.
Before joining our firm, Christophe worked in the Brussels and London offices of another leading international law firm. He contributes actively to industry developments and maintains strong relationships with asset managers, international financial institutions, corporates, and sovereign entities.
Experience
Representative experience (gained at prior Firm) includes:
Sovereign debt
Aéroport International Blaise Diagne SA (AIBD SA) and the Republic of Senegal in a €300 million equivalent dual-currency, asset-based financing for the development of Senegal's air hub strategic plan ("Airport Deal of the Year – Africa" by IJGlobal Awards 2024; "Shortlisted for Project Deal of the Year" by IFLR Africa Awards, 2025).*
The Port Authority of Cotonou in the financing of the implementation of its Port Master Plan by Natixis (through ECA covered facilities) and the African Development Bank.*
The Republic of Benin on the financing of various infrastructure and ESG projects, as well on export financings and debt refinancings, including its €500 million debt-for-development swap benefitting from a policy-based guarantee provided by the International Development Association (IDA).*
The Republic of Chad and SHT, Chad state-owned oil company, on the restructuring of a $1.3 billion oil-for-cash facility agreement granted by Glencore and on the restructuring of its indebtedness vis-à-vis its official creditors under the G20 Common Framework (first country to successfully restructured its debt under the Common Framework).*
The Republic of Congo and SNPC, Congo state-owned oil company, on the proposed restructuring of various crude oil pre-financing in the context of discussions with the IMF for a new economic and financial program for the Republic of Congo.*
The Republic of Congo in connection with a EUR 370 million facility agreement arranged by Afreximbank.*
The Republic of Côte d'Ivoire on the financing of various infrastructure and ESG projects as well on export financings and debt refinancings, including (x) its EUR 533 million financing benefitting from a partial credit guarantee from the African Development Bank ("ESG Loan Deal of the Year 2024" by Bonds, Loans & ESG Capital Markets, Africa Awards), (y) its EUR 400 million debt-for-development swap benefitting from a policy-based guarantee from IBRD, and (z) its EUR 433 million inaugural sustainability-linked loan financing arranged by Standard Chartered Bank, partially guaranteed by the International Bank for Reconstruction and Development (IBRD) and benefiting from a second-loss guarantee from the Multilateral Investment Guarantee Agency (MIGA).*
The Republic of Madagascar in connection with commercial loan agreements arranged by Deutsche Bank and benefitting from a particle credit guarantee granted by the African Development Bank and the African Development Fund.*
The Republic of Niger in connection with the partial refinancing and reprofiling of its CFA denominated domestic public through a facility agreement arranged by MUFG and guaranteed by the ATIDI.*
The Republic of Senegal on the financing of numerous infrastructures and ESG projects as well as on export financings and debt refinancings, including (x) its €500 million equivalent AfDB covered dual-currency sustainable facility ("Sovereign Syndicated Loan Deal of the Year" at the Global Banking & Markets: Africa Awards 2025), and (y) its €300 million short-term trade facility benefiting from a partial credit guarantee provided by MIGA to finance Senegal local agriculture sector and food security policies ("Shortlisted for Loan Deal of the Year" by IFLR: Africa Awards 2025).*
The Republic of Togo on the refinancing and reprofiling of its of CFA denominated domestic public debt by MUFG benefiting from a full credit insurance cover by the African Trade Insurance Agency (ATI), on a EUR 150 million MIGA-covered facility agreement arranged by Société Générale and a EUR 200 million AfDB-covered facility agreement arranged by Deutsche Bank and Legal General Investment Manager.*
Project Development and Finance
Akuo Energy on the financing of wind farm projects in Eastern Europe and Latin America.*
Arcelor Mittal on an EIB project financing for the construction and operation of an installation converting wood waste into bio-coal and converting industrial gas from its blast furnaces into bioethanol.*
Envol Immobilier on the structuring and financing of various PPP projects in Côte d'Ivoire (San Pedro University Campus), Senegal (United Nations House in Diamniadio ), and Togo (Kara and Datcha Universities).*
Petrosen and the Republic of Senegal in a series of agreements providing for the development of the Sangomar gas field and the Greater Tortue/Ahmeyim oil field, offshore Senegal, and the financing of PETROSEN's share of the development costs.*
Qair as sponsor for the financing and development of two solar power (and battery storage) projects in the Republic of Chad.*
Republic of Senegal in the €490 million Financing of the 128MW Sambangalou Hydroelectric Power Plant on the Gambia river.*
Société Africaine de Raffinage in a €90 million secured facility agreement to refinance part of SAR's existing debt and to finance the investments aimed at increasing its refining capacity.*
VaxSen, a wholly owned subsidiary of the Institut Pasteur de Dakar non-profit foundation, in the development and financing by the International Finance Corporation, the U.S. International Development Finance Corporation and the African Development Bank of a large-scale manufacturing facility to produce vaccines (Madiba Project).*
Corporate Finance
Axereal on the structuring of a multi-layered quasi-equity and debt financing for the acquisition of the global malt business of Cargill.*
Goodyear in connection with its €450m pan-European securitization program and its €800 million secured pan-European revolving facilities agreement (including granting of collateral in more than 20 European jurisdictions).*
Debt Capital Markets
CMA CGM, a leading worldwide shipping group, in various high yield notes offerings for an aggregate amount in excess of €3.5 billion.*
KBC as lead manager in the €125 million retail bond offering in Belgium and Luxembourg of Vranken Pommery Monopole S.A.*
The underwriters in several capital markets transactions for Nyrstar, including in convertible bond and high yield notes offerings.*
OVH Groupe on its debut high-yield bond offering.*
Univeg in its high yield senior secured debut notes offering and related senior credit facility agreement.*
Financial Restructuring and Insolvency
BNP Paribas on the acquisition of Fortis' banking operations, the financing of the related defeasance structure (the so-called "bad bank", named Royal Park Investments) and on the corporate and regulatory aspects of the integration of BNP Paribas' and Fortis Bank's activities worldwide.*
Dexia on the implementation of its EU Commission-approved orderly resolution plan, in the aftermath of the 2008 financial crisis and 2011 sovereign debt crisis, including the negotiation of an €85 billion first-demand funding guarantee from the Belgian, French, and Luxembourg States, allowing Dexia Credit Local to refinance itself throughout the implementation of said resolution plan.*
Truvo, a local search and advertising Belgian-headquartered group, on successive debt restructurings, including through the implementation of a US Chapter 11 plan (awarded "2011 EMEA Restructuring Deal of the Year" by IFR), and ultimately on the prepack sale of its remaining activities on a going-concern basis (at a time when such procedure was not contemplated yet under Belgian insolvency laws).*
Financial Services Regulatory
Abu Dhabi Investment Authority (ADIA) in connection with the acquisition of an indirect qualifying holding in Athora Belgium and subsequent reorganisation of ADIA intermediate holding.*
Bank Degroof Petercam and Bank of New York Mellon on various regulatory matters, including in connection with resolution strategies.*
BNP Paribas in the acquisition of a qualifying interest in Ageas from Fosun Group.*
Citibank, Goldman Sachs International, and B3 in various Euroclear collateral arrangements.
Euronext in its €4.325 billion acquisition of Borsa Italiana from the London Stock Exchange Group.*
Goldman Sachs on the use of triparty correspondent central banking model for Bundesbank monetary policy operations.*
J.C. Flowers on its acquisition of Fidea (now Bank Nagelmakers) from KBC and subsequent sale thereof to Anbang Insurance Group.*
*Christophe worked on these matters prior to joining White & Case
Queen's College
"Christophe Wauters has an exceptional capacity to negotiate detailed lending provisions without losing sight of the broader picture of a deal. He has great judgement on opportunity versus cost." (Chambers Global, 2025)
"He is deeply involved, very experienced and very good at what he does." (Chambers Global, 2025)
"Christophe offers diligence and recognised expertise" (Chambers Global, 2025)
"Christophe Wauters is very professional, provides business-oriented advice." (Legal500, 2022):
Chambers Global, Belgium, Foreign Expert: Banking & Finance
Chambers Global, Africa-wide, Banking & Finance: Spotlight
IFLR1000, Belgium, Banking (Notable Practitioner)
IFLR1000, Belgium, Capital Markets: Debt (Notable Practitioner)
Legal500, Belgium, EU Regulatory: Financial Services (Next Generation Lawyer) (2018)