Page 30 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

alignment with the UAE strategies and Visions. Our commitment remains
focused on creating lasting economic value for our country while enabling our
companies to compete and thrive on the world stage.”
H.E. 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 USD150 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, 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

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