Page 11 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

Press Release

highlights the UAE’s stable investment climate and the strategic significance of its non-
hydrocarbon sectors.

With Trafigura’s expertise in supplying its customers with metals, minerals and bulk commodities
across the world, its choice to source from the UAE demonstrates both its dedication to the region
and the nation's increasing significance as a supplier of quality, non-hydrocarbon resources. The
company’s extensive global network, in-depth market knowledge, combined with its competence
in managing complex supply chains, positions this initiative as a significant turning point in the
UAE’s export landscape.

All lenders serve as the mandated lead arranger, with Natixis CIB acting as bookrunner, facility
coordinator, facility agent, and ECA agent. This ensures that the interests of the participating banks
are aligned, and aids in structuring and coordinating the financing. As a division of the Abu Dhabi
Fund for Development, ADEX makes a substantial contribution by utilising its mandate to support
exports from the UAE, thus amplifying the transaction's economic effect. Similarly, FAB's
significant global and regional reach lends substantial financial stability and strength to the
partnership, bolstering the team's collective efforts to assist Trafigura in its sourcing endeavours.

In addition to the strategic roles played by the financial institutions, Allen Overy Shearman
Sterling (A&O) and Clyde & Co. also provided expert legal counsel for the new alliance. Their
expertise helped to strengthen the foundation of the partnership, protecting the interests of all
parties involved and ensuring the transaction's overall integrity.

Khalil Al Mansoori, Director General of ADEX, remarked: “The agreement is a continuation
of our effort to expand the scope of partnerships, so we can further unify our initiatives to support
and develop national exports by providing flexible and reliable financing. This partnership with
National and international banks and other financial institutions aligns with UAE economic
diversification goals and underscores our belief that united efforts lead to transformative success.”

Stephan Jansma, Trafigura Group Chief Financial Officer, stated, “We appreciate the
significance of Etihad Credit Insurance’s convening power to bring together the Abu Dhabi
Exports Office, First Abu Dhabi Bank and Natixis to deliver the first financing of its kind to a
commodity trading company, supporting the UAE’s increasing significance as a producer of non-
hydrocarbon resources.”

Natixis Corporate and Investment Banking DIFC Branch spokesperson, Barbara Riccardi,
MD and Regional Head Middle East – Caucasus and Central Asia stated: “Natixis CIB is
pleased to have played a key role in coordinating, structuring, and arranging this financing deal in
support of Trafigura’s efforts to increase commodity purchases from the UAE, which also
contributes to the UAE's strategic vision of expanding non-oil exports. We are proud to have been
a trustworthy partner of ECI from the beginning, and our teams have developed a wealth of
experience and expertise managing ECI covered loans. This financing further solidifies Natixis
CIB’s position as a key global financial player to lead landmark transactions.”

Hana Al Rostamani, Group Chief Executive Officer of FAB, said: “FAB is the UAE’s global bank and
we are uniquely positioned to support transactions that facilitate the development of the UAE’s international