Ruth van Lare

Ruth van Lare
Associate

FINANCE

PARIS

T: +33 1 56 88 21 21
D: +33 1 76 40 16 35
M: +33 6 38 28 57 78

Summary Open

Ruth is a Scottish-qualified lawyer in the Paris Finance team who specialises in asset and project finance with a focus on shipping and aviation. She acts mainly for banks and financial institutions, export credit agencies and other lenders in domestic, cross border and multi-jurisdictional transactions and has represented major key players in the aviation and shipping industry across Asia, Africa, Europe and Latin America. She also has experience in ECA-backed financings.

She has previously worked within the corporate department of a leading Scottish law firm and as an in-house lawyer at the Paris headquarters of a major player in the oil and gas sector.

Ruth speaks fluent French.

Experience Open

    Ruth’s experience includes advising:
    Aviation finance:
    • A multitude of different syndicates of banks on the JOLCO financing, with multiple different Japanese equity houses, of single aircraft and batches of aircraft of multiple different types (including A319, B777, B787-9 and A380 aircraft) for Air France.
    • On the purchase and financing of 1 x Dassault Falcon 2000 aircraft for a prominent Eastern European businessman.
    • Deutsche Bank, CA-CIB, Coface and SACE on the ECA financing of 6 x ATR aircraft for Swedish airline Braathens.
    • A leading French bank on the financing of the purchase and JOL of 3 x B737 aircraft for Dutch airline KLM.
    • A leading French bank on the financing of the purchase and JOL of 2 x A320 aircraft for Irish airline Aer Lingus.
    • A leading Spanish bank on the BPIAE / SACE supported financing of 2 x ATR 72 aircraft for a North African airline.
    Shipping finance
    • CIC and BNP Paribas on the £160m financing granted to Technip UK for the acquisition of diving support vessel “Deep Explorer”.
    • CACIB, SACE and a syndicate of banks in relation to an ECA-backed financing of a 754 passenger cruise vessel to be built by the Italian shipyard Fincantieri S.p.A and to be purchased by Explorer II New Build LLC, a wholly-owned subsidiary of NCL Corporation Ltd. The SACE-backed loan facility of up to circa USD$498m will be used to fund the construction of the Vessel. The Vessel is expected to be completed in 2020 and will sail as part of the Regent Seven Seas fleet.
    • CACIB, SACE and a syndicate of banks on the delivery of the cruise ship “Seven Seas Explorer” built by the Italian shipyard Fincantieri S.p.A. “Seven Seas Explorer” was delivered to Explorer New Build LLC, a wholly-owned subsidiary of Norwegian Cruise Line Corporation Ltd, on 30 June 2016 and will sail as part of the Regent Seven Seas fleet. The SACE-backed loan facility of US$374m was used to partially fund the construction of the vessel.
    • A European borrower on the GIEK-backed financing by a commercial bank and Eksportkreditt of a pipe-laying support vessel.
    • Natixis Tamaulipas – Amendment to the Finance documentation in respect to rescheduling the outstanding balloon amount under the Facility Agreement.
    • A global project management/engineering and construction company in the energy sector with the ECA-backed financing of two subsea construction and pipe laying vessels to be built by a Norwegian shipyard and owned by the joint-venture subsidiary of the global project management/engineering and construction company. (Eksportkreditt / BNDES)
    • A global project management/engineering and construction company in the energy sector with the ECA-backed financing of two subsea construction and pipe laying vessels to be built by a Brazilian shipyard and owned by the joint-venture subsidiary of the global project management/engineering and construction company. (Eksportkreditt / BNDES)
    • A pool of over 25 French banks led by Société Générale on the English law shipping aspects of the $1bn debt restructuring of Bourbon.
    • Crédit Agricole Corporate and Investment Bank (“CACIB”), SACE and a syndicate of banks on the delivery of the cruise ship “Seven Seas Explorer” built by the Italian shipyard Fincantieri S.p.A. “Seven Seas Explorer” was delivered to Explorer New Build LLC, a wholly-owned subsidiary of Norwegian Cruise Line Corporation Ltd, on 30 June 2016 and sails as part of the Regent Seven Seas fleet. The SACE-backed loan facility of US$374m was used to partially fund the construction of the vessel.
    ECA-Backed financings
    • SACE and different syndicate of banks (including CACIB, BNPP, HSBC, CdP, KfW) in relation to an ECA-backed pre- and post-delivery €3bn financing of four 3,300 passenger cruise vessels (NCL Corporation Ltd).
    • A European bank on a US$ 30m SERV covered buyer credit financing for a Jordanian borrower in respect of a 400 KV AIS substation to be acquired in connection with the construction of a 3000 MW combined cycle power plant in Iraq.
    • CACIB in relation to a facility supported by Finnvera to finance two commercial contracts entered into between subsidiaries of company Pampa Energia SA and Wärtsilä Finland Oyj for the purchase of a 100MW dual-fuel plant and six 50DF dual-fuel engines.
    • A cross-border Madrid-Paris WFW team advised a banking syndicate led by Banco Santander on the circa US$252m financing granted to La Pampilla, a Peruvian refinery 83% owned by Repsol, the leading Spanish energy company. The funding was used for the construction of a new production facility for diesel fuels at the refinery, which will prevent the emission of circa 100 tonnes of sulphur dioxide every day, making La Pampilla one of Peru’s most environmentally friendly refineries.
    • CACIB in relation to a SACE-supported loan facility of €35m for Abencor Suministros S.A., a subsidiary of Abengoa S.A., to finance the supply of equipment for the installation of power lines in Brazil. The approximately 2,350 km power line with direct current is the largest ever constructed in Latin America.
    • Banco Santander SA on a facility supported by KUKE to finance the export of a steam turbine to a company in the Abengoa Group in Israel.
    • Banco Santander SA on a facility supported by Euler Hermes to finance the export of machinery in favour of Abengoa Peru.
    Project:
    • A French bank in relation to an ECA-backed loan facility for a Spanish owner in order to finance the supply of equipment for installation of power lines in Brazil.
    • Amendment to the Facility Agreement and Finance documents to reflect the Corporate reorganisation of the Vitol Group and subsequent share transfer to the New Parent.
    • A a French banking syndicate in relation to the financing for the construction, development and operation of a portfolio of 11 photovoltaic plants in France, representing a cumulated capacity of up to approximately 61,20 MWc.

Education Open

  • 2009: Diploma in Legal Practice, – Glasgow Graduate School of Law
  • 2008: 1st class, LLB Law with French Law, University of Aberdeen
  • 2006: Diploma in French Law (ERASMUS), Université Pierre Mendès-France, Grenoble II

Author/Speaker/Awards Open

  • “It’s the start of the railroading towards the Luxembourg Protocol” (co-author), Leasing Life, March 2016.

Membership of Professional Societies Open

  • Law Society of Scotland
  • Paris Bar (registered as a foreign lawyer)

Employment Record Open

  • 2013 – 2015: Tokheim Group – HQ, Paris
  • 2010 – 2013: Semple Fraser LLP, Edinburgh

News Open