Page 78 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

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, 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."

https://www.bignewsnetwork.com/news/274605864/etihad-credit-insurance-signs-financing-
deal-to-support-trafigura-exports-from-uae#google_vignette