Elizaveta Bazarova

Counsel, London

Biography

Overview

Elizaveta Bazarova is counsel in the European infrastructure debt practice at White & Case. Elizaveta specializes in infrastructure acquisition financings and refinancings, acting for both infrastructure sponsors and finance providers.

Elizaveta has previously been seconded to the in-house legal department of ENGIE S.A. in Paris as legal head of energy management and trading.

Bars and Courts
England and Wales
Education
Legal Practice Course
BPP Law School
Diploma
BPP Law School
BSc (Hons)
University of Plymouth
Languages
English
Latvian
German

Experience

Representation of Macquarie Asset Management (MAM) in relation to the financing for the purchase of a 60% stake in National Grid plc's UK gas transmission and metering business (NGG) through a consortium led by MAM

Representation of the lenders in relation to the fully documented certain funds financing for an unsuccessful bid for UK Power Networks

Representation of funders on a fully documented funds certain acquisition financing for an unsuccessful consortium bid for Eneco, a Dutch utility*

Representation of an undisclosed bidder on the acquisition financing for their offer for Gazprom's stake in Latvijas Gaze*

Representation of Marguerite on their acquisition of a minority stake in Latvijas Gaze*

Representation of the funders on the establishment of the multi-creditor rated midco common terms platform for LBC

Representation of JPM and Koole on the establishment of the multi-creditor common terms platform for Koole Terminals, having also advised on the previous refinancing of Koole Terminals. The debt package included ESG linked incentives*

Representation of VTTI B.V. on the establishment of the multi-billion dollar multi-creditor common terms platform, including senior bank facilities, a USPP and standalone hedging, for refinancing of their existing unsecured bank and PP debt*

Representation of Värtan Gas, an independent and regulated gas Distribution System Operator, on the refinancing of its debt

Representation of Infrastructure Investments Fund, an investment vehicle advised by J.P. Morgan Investment Management, on its acquisition of GETEC, one of Europe's leading sustainable energy service companies for real estate and industrial customers (including related acquisition financing at both senior and junior levels)

Representation of the bidder on the finance elements of their bid for Thyssengas

Representation of the funders in relation to the junior platform financing of Adven Group, a provider of sustainable and business critical energy infrastructure and services in Finland, Sweden and Estonia*

Representation of the institutional funders on the junior debt refinancing for a 50% indirect shareholder in Solör Bioenergy Group*

Representation of an infrastructure fund consortium on the certain funds acquisition funding for their bid for Nevel Oy, a Finnish district heating business*

Representation of the funders on the refinancing of a Norwegian district heating business, Oslo Vjarme, backed by Mirova

Representation of an infrastructure sponsor on an unsuccessful bid for the Järvenpää/Tuusula district heating assets of Fortum and related bank acquisition financing*

Representation of funders in connection with establishing a secured debt platform together with a bank facilities agreement and a note purchase agreement for Loiste group, a Finnish heat distribution business*

Representation of funders in connection with establishing a secured debt platform for HS Orka, one of the largest power

Representation of the funders on a junior financing for Tank & Rast

Representation of lenders to TDC Net in relation to additional debt raise

Representation of a consortium comprising AXA Real Estate Investment Managers SGP and Lægernes Pension - Pensionskassen For Læger in relation to the holdco institutional financing for their bid for a minority shareholding in Norlys Tele Service A/S

Representation of Open Fiber in relation to the establishment of the multi-creditor common terms platform, including bank and PP debt

Representation of the lenders to 3i on its acquisition and roll-out financing for its successful bid for DNS:NET Internet Service, a German fibre and ISP business

Representation of funders on the refinancing of Airband, a UK provider of alternative broadband for rural homes and businesses

Representation of the funders in relation to the junior financing for a European portfolio of data centres

Representation of the funders in relation to the establishment of a multi-creditor common terms platform, including bank and PP debt, for NorthC, a Dutch and German portfolio of data centres owned by DWS, the first such platform financing for data centres in Europe

Representation of an infrastructure fund in relation to the certain funds financing for their unsuccessful bid for Green Mountain

Representation of the funders on the first European data centre financing based on infrastructure finance terms for a portfolio of data centres backed by StepStone, being one of the most efficient data centre portfolios in Switzerland*

Representation of the funders to a bidder in relation to multi-layer financing for its bid for 51% of the issued shares in Deutsche Telecom's German and Austrian TowerCo

Representation of funders in relation to certain funds financing for an unsuccessful bid for a minority stake in Telia's Finnish and Norwegian tower business

Representation of Boreal, a Norwegian ferry owner and operator, on their refinancing including establishment of a multi-creditor common terms platform

Representation of an infrastructure fund on the financing for their bid for Akiem

Representation of the lenders to a consortium of GIP and ADIA in relation to the acquisition financing for their successful bid for VTG

Representation of the funders in relation to a holdco financing for MSIP's controlled entity that is a majority shareholder in VTG

Representation of the funders in relation to a holdco financing for OMERS's controlled entity that is a minority shareholder in VTG

Representation of the lenders to a consortium in relation to their financing for a bid for a minority stake in Altamira, Telefonica's fibreco

Representation of the funders to a bidder in relation to multi-layer financing for its bid for 51% of the issued shares in Deutsche Telecom's German and Austrian TowerCo

Representation of funders in relation to a holdco financing to two individual sponsors in relation to a minority squeeze out for one of the largest European rail freight businesses

Representation of funders to DWS in relation to the midco bank bridge financing for its successful bid for Ermewa in a consortium with CDPQ and a subsequent PP debt take out

Representation of funders in relation to the establishment of the new multi-billion multi-creditor common terms platform for the refinancing of the existing debt of Cross London Trains, one of the largest single fleet rolling stock owners in Europe*

Representation of Beacon Rail Leasing and JP Morgan Asset Management on the ongoing taps under the multi-creditor debt platform

Representation of funders on the acquisition refinancing based on the multi-creditor terms for Hector Rail, operating in the Nordics and Germany*

Representation of the lenders to the infrastructure fund on the multi-creditor financing for their unsuccessful bid for MapleCo, a UK gas and electricity smart metering business*

An infrastructure fund on the certain funds financing for their unsuccessful bid for Infrareal

Representation of the EUPP funders, bank lenders and hedge providers on the holdco multi-creditor financing for the Copenhagen airport and subsequent COVID-19 waivers*

Representation of Bristol Airport and the Sponsors (comprising SunSuper, StepStone, New South Wales Treasury Corporation, and the Ontario Teachers' Pension Plan Board) in the amendment and extension of a holdco liquidity facility

Representation of OTPP on the holdco financing for Bristol Airport*

Representation of the funders on the Aberdeen, Glasgow and Southampton airport refinancing and subsequent COVID-19 waivers*

Representation of the lenders to AGS, a portfolio company backed by a consortium, including MIRA, on waivers and mezzanine financing for a portfolio of airports in the UK*

Representation of a consortium led by Macquarie Asset Management, together with British Columbia Investment Management Corporation and MEAG (the asset manager of Munich Re and Ergo) on the financing for the consortium's acquisition of Reden Solar, a French-based developer, financer, builder and operator of solar power plants across Europe and Latin America, from InfraVia Capital Partners and Eurazeo

Representation of the sponsors on the refinancing of junior institutional debt in relation to a Nordic wind portfolio*

Representation of Macquarie Alternative Assets Management Limited on the funding arrangements with Green Climate Fund*

Representation of Goldman Sachs on the subscription for a minority stake in DONG Energy for €1.5 billion, including due diligence of DONG Energy's production assets and offshore wind assets in North Sea*

Representation of Duet Group on the acquisition of a power supplier Energy Developments from Pacific Equity Partners for $1.4 billion (with 900 MW of generating assets in Australia, Greece, UK and USA) and $1.23 billion equity raising to support its cash bid for the acquisition*

Representation of Brookfield Asset Management on:

  • its acquisition and financing of the renewables portfolio in Ireland as part of the privatisation of Bord Gáis Energy as a result of the Irish government's commitments to Troika that involved restructuring and simultaneous acquisition of different parts of the business of Bord Gáis Energy by Centrica, Brookfield Renewable Energy Partners and Icon Infrastructure*
  • a number of bids for other large European wind farm portfolios*
  • establishment of a template for power trading*

Representation of M&G Investment Management on acquisition financings in relation to the majority of M&G's UK social housing rooftop solar PV systems*

Representation of a syndicate of lenders on the acquisition bridge financing for acquisition of a portfolio of wind farms in the UK from EDF and subsequent refinancing*

Representation of the lenders on the project financing of £2.6 billion Beatrice Offshore Windfarm project sponsored by SSE, Copenhagen Infrastructure Partners and SDIC Power*

Representation of AMP Capital on a £37 million 8-year mezzanine facility to Lightsource in relation to their refinancing and capital increase programme for a portfolio of solar power plants with the M&G Investments £247 million 22-year inflation-linked senior financing*

Representation of Masdar, the infrastructure investment arm of the Abu Dhabi government, on the holdco financing for the minority investment in 630MW London Array offshore windfarm

Representation of an infrastructure fund on the acquisition financing for a bid to acquire a 600MW wind farm portfolio in Portugal*

*Experience prior to joining White & Case