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Energy trader BGN doubles revolving credit facility from Abu Dhabi at $232.5m

Summary by TradeWinds | Latest Shipping and Maritime News

Besides the Abu Dhabi Exports Office, nine Abu Dhabi lenders also participated in the facility

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Global Trade Review (GTR)

Middle Eastern banks pile into BGN credit facility

The Abu Dhabi Exports Office (Adex) has backed another deal for energy trader BGN, leading a US$232.5mn revolving credit facility that involves 10 financial institutions from the United Arab Emirates. The financing, which was originally set at US$100mn, was closed at more than double the launch amount. Adex and First Abu Dhabi Bank (FAB) led the syndicate of UAE-based banks, while Abu Dhabi Commercial Bank (ADCB) acts as facility agent. Other pa…

3 days ago

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Biz Today

Abu Dhabi Exports Office Grows Nine-Lender Finance Facility for Energy Trader BGN to More than $230m

News Desk ABU DHABI: Abu Dhabi Exports Office (ADEX) and First Abu Dhabi Bank (FAB), leading a syndicate of nine UAE lenders, have successfully more than doubled a finance facility for global energy trader BGN to $232.5 million. Originally set at $100 million with a $120 million target, the oversubscribed facility marks a watershed in regional trade finance by incorporating an innovative Murabaha tranche to accommodate Islamic banks alongside co…

3 days ago

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