Christophe Wauters’ practice focuses on financing, debt restructuring, and bank regulation.

Christophe has experience across a broad range of debt financing products, advising 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. He has also worked on major bail-outs and restructurings of European financial institutions, high-yield bond offerings, and sovereign debt restructurings.

Christophe joined the firm in 2007, became a senior attorney in 2014, and became counsel in 2022. Prior to Cleary, he worked in the Brussels and London offices of another international law firm.

Read More

Notable Experience

  • Various Sub-Saharan African sovereigns (including the Republics of Benin, Congo, Ivory Coast, and Senegal) on the financing of various infrastructure and ESG projects, export financings, and debt refinancings, in an aggregate amount in excess of €10 billion equivalent over the last five years, including on financings benefitting from partial guarantee or insurance cover from the AfDB, IDA, MIGA, or ATIDI.

  • The Republic of Chad on the restructuring of a $1.3 billion oil-for-cash facility agreement granted by Glencore and of its indebtedness vis-à-vis its official creditors under the G20 Common Framework.

  • Aéroport International Blaise Diagne SA in a dual-tranche (euro and XOF) asset-based financing (to be repaid from the collection of airport infrastructure development charges levied by airlines on passengers departing from Senegalese airports) for an aggregate amount of up to €300 million to refinance investments made under the Republic of Senegal’s air hub strategic plan.

  • Institut Pasteur de Dakar in the development and financing of a large-scale manufacturing facility for the production of vaccines in Africa (Project Madiba), a crucial first step toward vaccine self-sufficiency in Africa.

  • PETROSEN, the Senegalese national oil company, on the development of the Grand Tortue Ahmeyim (GTA) offshore LNG project and the Sangomar offshore oilfield project, and the financing of its share in related development costs.

  • ArcelorMittal Belgium on the structuring and financing by the EIB of its breakthrough decarbonation project, aiming at converting wood waste into bio-coal for its Ghent operations and converting furnace gasses into bio-ethanol (set to reduce up to 350,000 tonnes of CO² emissions per year).

  • Goodyear in connection with the structuring and renewal of its EUR 800 million secured European revolving loan facilities and its EUR 450 pan-European securitization program, and in various bond offerings.

  • Axéréal, a leading agricultural and food processing cooperative group, on the structuring of a multi-layered quasi-equity and debt financing for the acquisition of the global malt business of Cargill.

  • CMA CGM, a leading worldwide shipping and logistics group, in various high yield notes offerings for an aggregate amount of EUR 1.4 billion.

  • Envol Immobilier Group on the structuring and financing of various PPP projects in Côte d’Ivoire (San Pedro University), Senegal (United Nations House in Diamniado) and Togo (Kara and Datcha Universities).

  • Port Autonome de Cotonou in connection with the financing of the implementation of its Port Master Plan by Natixis (through ECA covered facilities) and the African Development Bank. 

  • Société Africaine de Raffinage (SAR), the West-African oldest refinery company, in a €90 million secured facility agreement with Africa Finance Corporation (AFC) to refinance part of SAR’s existing debt and to finance the investments aimed at increasing its refining capacity.

  • Several sponsors on the financing of wind farms, solar, and hydropower projects across Africa, Eastern Europe, and Latin America. 

  • BNP Paribas in its €14.5 billion acquisition of Fortis Bank and the subsequent reorganization of its banking and asset management activities.

  • Dexia in its restructuring and dismantling plan, including the structuring and negotiation of a €85 billion sovereign funding guarantee granted by Belgium, France, and Luxembourg.

  • Truvo Group, a European directories company, on successive cross-border restructurings and eventual pre-packed sale through bankruptcy proceedings.

See More

Publications

Co-author, “EU introduces new Hydrogen and Decarbonized Gas Market Package,” Cleary Gottlieb EU Energy Resource Center, September 2024.

Co-author, “Ensuring a Fair Energy Transition for Sub-Saharan Africa,” March 2024.

Co-author, “Third time is the charm: RED III - The Latest Revision to the Renewable Energy Directive Sets Ever More Ambitious Climate Goals,” Cleary Gottlieb EU Energy Resource Center, December 2023. 

Co-author, “Rating African Sovereigns: A Way Forward,” November 2023. 

Co-author, “The Critical Raw Materials Act,” July 2023.

Co-author, “European Commission Proposes Definition of Renewable Hydrogen in the EU,” Cleary Gottlieb Alert Memo, April 2023.

Co-author, “African Sovereign Financing Accessing Capital in 2023,” March 2023.

Co-author, “The EU Commission’s Proposal on Pre-Pack Sales and Other Insolvency Matters,” Cleary Gottlieb Alert Memo, February 2023. 

Contributing Author, A Practitioner’s Guide to Syndicated Lending, 2nd Edition.

Laurent Ruzette and Christophe Wauters, “Le renflouement interne comme instrument de résolution,” in Les Dossiers du Journal des tribunaux – La loi bancaire; questions particulières / De bankenwet: bijzondere vraggstukken, 2015.