ECI, FAB, Natixis CIB and HSBC, renew, expand support for Trafigura to advance UAE-origin commodity exports

Etihad Credit Insurance (ECI), the UAE Federal export credit company, in collaboration with Natixis Corporate & Investment Banking (Natixis CIB), First Abu Dhabi Bank (FAB), and HSBC Bank Middle East Limited, has signed a joint agreement to renew and expand its support for the procurement of UAE-origin commodities by Trafigura, a market leader in the global commodities industry.

The renewed agreement extends ECI’s support for a further two years and broadens the scope of eligible trade flows to include the exports of any non-hydrocarbon related products of UAE origin from the UAE.

Under the renewed arrangement, Trafigura will benefit from a USD 150 million revolving credit facility, with ECI providing credit insurance support of up to USD 100 million.

The two-year financing facility will facilitate the procurement of eligible UAE-origin commodities, supporting their movement into international markets and reinforcing the UAE’s position as a global trading and re-export hub. The renewed facility also sees HSBC Bank Middle East Limited join the Mandated Lead Arranger consortium alongside Natixis CIB and FAB, with Natixis CIB acting as Facility Coordinator, Bookrunner and ECA agent bank.

The renewed arrangement builds on ECI’s support for Trafigura under the previous 2024–2026 policy. The expanded scope represents a continuation of ECI’s support while broadening the facility to cover a wider range of UAE-origin non-oil exports.

Haitham Al Khazaleh, Director of Underwriting at Etihad Credit Insurance, said: “The renewal and expansion of our support for Trafigura reflects ECI’s commitment to enabling UAE-origin exports through effective credit risk mitigation and innovative trade finance solutions. 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.

This renewed collaboration demonstrates the important role of export credit insurance in strengthening trade partnerships, supporting the UAE’s economic diversification ambitions and connecting UAE businesses with international markets.”

James Murphy-O’Connor, Trafigura’s Head of ECA Finance, said: “We are delighted to be renewing and expanding our ECI-backed facilities, underscoring our commitment to connecting commodities from the United Arab Emirates with global markets. By linking producers in the UAE with consumers around the world, we are supporting the growth of the UAE’s commodity sector and meeting rising demand for materials through building reliable, diversified supply chains.”

Matthieu Jamin, Head of Global Trade ME, Turkey & CCA, Natixis CIB, said: “Natixis CIB is pleased to continue its partnership with Etihad Credit Insurance in supporting Trafigura through the renewal and expansion of this trade financing facility. Building on our longstanding partnership with ECI and our collaboration with FAB and HSBC, this renewed agreement reflects our shared commitment to facilitating trade flows and supporting the UAE’s strategic vision of expanding non-oil exports. We are proud to continue being a trusted partner of ECI, drawing on our extensive experience and expertise in structuring and managing ECI-covered financing solutions.”

Alexei Rybakov, Head of Export Finance, MENAT, HSBC said: “HSBC is pleased to partner with ECI in supporting the renewal of this important trade-related finance facility for Trafigura. The transaction demonstrates the value of bringing together export credit and banking expertise to facilitate the movement of UAE-origin commodities into global markets. As the UAE continues to diversify its non-oil trade and strengthen its role in global supply chains, HSBC is well positioned to leverage its international network and export finance capabilities to support businesses and help connect the UAE with key markets worldwide.”

The transaction underscores the importance of collaboration between export credit institutions and commercial banks in facilitating trade finance for UAE-origin goods. Natixis CIB , FAB, and HSBC bring their respective international banking capabilities to the renewed facility, while ECI’s credit insurance support helps mitigate defined credit risks associated with the financing.

The renewed arrangement is aligned with ECI’s mandate to support the growth and international competitiveness of the UAE’s non-oil economy. By facilitating financing for UAE-origin commodities destined for overseas markets, ECI continues to support the country’s ambitions to deepen international trade relationships and strengthen its position as a global hub for trade, logistics and re-export activity.