Etihad Credit Insurance, the UAE’s federal export credit company, will provide up to $100 million of credit insurance support for a renewed $150 million revolving credit facility for commodities trader Trafigura, the agency said on Tuesday.
The two-year facility will fund Trafigura’s procurement of UAE-origin commodities for export, and the renewal widens eligible trade flows to include any non-hydrocarbon products of UAE origin exported from the UAE, according to the announcement.
Natixis Corporate and Investment Banking, First Abu Dhabi Bank and HSBC Bank Middle East Limited are arranging the facility. HSBC joins Natixis CIB and First Abu Dhabi Bank as a mandated lead arranger, and Natixis CIB acts as facility coordinator, bookrunner and export credit agency agent bank.
The agreement extends support Etihad Credit Insurance gave Trafigura under its previous 2024 to 2026 policy.
“By providing credit insurance support for this facility, we are helping financial institutions manage risks while facilitating access to financing for a broader range of non-oil commodities,” said Haitham Al Khazaleh, director of underwriting at Etihad Credit Insurance.
James Murphy-O’Connor, head of ECA finance at Trafigura, said the renewal underscored the company’s commitment to “connecting commodities from the United Arab Emirates with global markets.”
The financial terms of the facility, including pricing, were not disclosed.
