Page 56 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

9/19/24, 9:41 AM Etihad Credit Insurance signs financing deal to support Trafigura’s exports from UAE – UAE Business and Travel Insights – TotalUA…
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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