Page 27 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

commitment remains focused on creating lasting economic value for our country while
enabling our companies to compete and thrive on the world stage.”•

Raja Al Mazrouei, CEO of Etihad Credit Insurance, stated, “It gives us great pleasure to
facilitate this strategic alliance between Abu Dhabi Exports Office (ADEX), First Abu
Dhabi Bank (FAB), and Natixis CIB to support Trafigura. This collaboration exemplifies
the UAE’s stable investment climate and effective focus on non-oil sectors. More
importantly, we believe this association not only increases in-country value but also
strengthens the UAE’s reputation as a trusted source of essential commodities on a
global scale. The equitable participation of ADEX, FAB and Natixis CIB, in this
transaction reflects ECI’s vision of fostering collaboration, which lays the groundwork for
a harmonious and mutually beneficial partnership.”•

This collaboration highlights ECI’s dedication to developing strategic alliances that boost
the UAE’s economy, increase the global visibility of its non-oil commodities, and solidify
the UAE’s standing as a hub for the same. It also demonstrates the commitment of Abu
Dhabi Exports Office (ADEX), First Abu Dhabi Bank (FAB), and Natixis CIB, to
supporting Trafigura in securing vital non-oil commodities such as metals and minerals
from the UAE, further integrating the country’s resources into international supply
chains.

In line with the collaboration, Trafigura will receive a $150 million Revolving Credit
Facility for two years to finance its acquisitions of non-hydrocarbon commodities
originating from the UAE. These commodities are intended for export and re-export,
thus cementing the UAE’s position as a vital hub in global trade networks. This
partnership between ADEX, FAB and Natixis CIB 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, and 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

https://thegulfindians.com/etihad-credit-insurance-signs-financing-deal-to-support-trafiguras-
exports-from-uae/