Page 41 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

9/19/24, 9:38 AM Etihad Credit Insurance signs financing deal to support Trafigura’s exports from UAE | Emirates News Agency
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 th
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 contr
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 substantia
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 allia
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 initiat
support and develop national exports by providing flexible and reliable financing. This partnership with National and international banks and other financial institutions aligns w
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 Dha
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 o
hydrocarbon resources.”
Natixis Corporate and Investment Banking DIFC Branch spokesperson, Barbara Riccardi, MD and Regional Head Middle East – Caucasus and Central Asia, stated, “Natixis
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 UA
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 d
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 transa
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 deve
the UAE’s international trade and investment landscape. As the largest bank in the country with an international network covering more than 60 percent of global GDP, FAB’s
and leadership in international trade finance, coupled with our financial strength, underpin our role in this important transaction that further boosts the UAE’s status as a globa
hub for non-oil commodities.”
By bringing these leading financial institutions together to assist Trafigura in sourcing commodities from the UAE, ECI has made significant advancements in the country's ex
capacities, thereby solidifying its position as a major player in international trade, while also fostering sustainable economic growth.

Hazem Hussein / Muhammad Aamir

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