Abu Dhabi Exports Office & Japan’s SMBC collaborate to provide loan facility to Trafigura

Abu Dhabi Exports Office & Japan’s SMBC collaborate to provide loan facility to Trafigura

Abu Dhabi Exports Office (ADEX), the export financing arm of Abu Dhabi Fund for Development, and Japan’s Sumitomo Mitsui Financial Banking Corporation (SMBC) have joined hands to provide a loan facility of US$135 million to Trafigura, a market leader in the global commodities industry.

ADEX contributed $125 million of the total facility to support Trafigura’s working capital needs, which include exports of metals, minerals, and refined hydrocarbons from the UAE.

SMBC financed the remaining $10 million and assumed the roles of facility agent and coordinator.

Mr. Mohamed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development and Chairman of ADEX, commented that “the loan provided by ADEX and SMBC would allow Trafigura to develop broader relations with Emirati exporters and increase the volume of imports of our strategic commodities. Such moves contribute to the UAE’s economic diversification efforts by increasing trade with the rest of the world and enhancing the presence of Emirati goods in the international market.”

Mr. Nicolas Marsac, Head of Structured and Trade Finance for Trafigura, remarked on the collaboration that “we are pleased to work with the Abu Dhabi Exports Office and SMBC to export the UAE’s strategic minerals and energy products to international markets. This is an