Page 36 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

9/24/24, 8:54 AM Etihad Credit Insurance, in collaboration with Abu Dhabi Exports Office, First Abu Dhabi Bank and Natixis sign first-of-a-kind financi…

Futures and Commodity Market News
Etihad Credit Insurance, in collaboration with Abu Dhabi

Exports Office, First Abu Dhabi Bank and Natixis sign first-
of-a-kind financing deal to support Trafigura's exports from
the UAE

Sep 22, 2024 (MENAFN via COMTEX) --

(MENAFN - Orient Planet Group)
September 18, 2024 - Etihad Credit Insurance (ECI), the UAE Federal export credit company, in collaboration with Abu
Dhabi Exports Office (ADEX), First Abu Dhabi Bank (FAB), and Natixis Corporate and Investment Banking (Natixis CIB),
signed a joint agreement to support Trafigura, a market leader in the global commodities industry, to expand their global
acquisitions of non-hydrocarbon commodities originating from the UAE. The financing deal was announced during a signing
ceremony between ECI and the relevant parties, which took place recently, at Rixos Marina Hotel, Abu Dhabi.

H.E. Mohamed Saif Al Suwaidi, Director General of ADFD and Chairman of the Exports Executive Committee of ADEX,
said: "This collaboration is part of ADEX's core mission to empower UAE businesses and enable them to expand their
global footprint. Strategic partnerships between local and international banks - public and private - such as this one help us
increase our national exports and strengthen the UAE's role as a key player in international trade, in 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 USD 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, 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

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