Page 50 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

9/19/24, 9:40 AM Etihad Credit Insurance (ECI) is the UAE Federal export credit company – The Gulf Time Newspaper
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 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 the 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 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 expertise
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 global export 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 export capacities, thereby solidifying its position as a major player in
international trade, while also fostering sustainable economic growth.

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