HFW Advises Energy Trader BGN On US$230m UAE Financing

Global, sector-focused law firm HFW advised energy trader BGN on a US$232.5 million facility from a syndicate of nine UAE lenders, led by Abu Dhabi Exports Office (ADEX) and First Abu Dhabi Bank (FAB), with Abu Dhabi Commercial Bank (ADCB) as Facility Agent.

Originally set at US$100 million with a US$120 million target, the oversubscribed facility marks a watershed in regional trade finance by incorporating an innovative Murabaha tranche to accommodate Islamic banks alongside conventional financing.

HFW’s team advising BGN was led by Olivier Bazin with Gibran Alaoui and Alex Choi.

Olivier Bazin, Head of Finance, HFW: “We were delighted to support BGN with this expansion of their flagship syndicated trade finance facility. The innovative dual-tranche Islamic and conventional feature, and support from ADEX and nine local banks, underscores the rise of the UAE as a major trade and export finance hub.”

To find out more about the transaction, visit: https://bgn-int.com/abu-dhabi-exports-office-grows-nine-lender-finance-facility-for-energy-trader-bgn-to-more-than-230m/

HFW’s specialist trade and export finance practice is a key part of the firm’s global finance offering, which comprises more than 100 lawyers across Europe, the Middle East, Asia Pacific, and the Americas. The team advise banks, export credit agencies, insurers, and major corporates across the world’s finance and trading hubs, including Geneva, Paris, London, Dubai, Abu Dhabi, Hong Kong, and Singapore.