Latest news with #RüyaBayegan
Al Etihad
02-06-2025
- Business
- Al Etihad
Al Seer Marine and BGN affiliate launch JV to meet growing LPG demand
2 June 2025 10:09 ABU DHABI (ALETIHAD)Al Seer Marine, a subsidiary of International Holding Company (IHC), has announced the launch of a joint venture (JV) with B International Shipping & Logistics—an affiliate of energy trader BGN — to strengthen its footprint in the liquefied petroleum gas (LPG) logistics Seer Marine, a listed company on the Abu Dhabi Securities Exchange (ADX) with a market cap of Dh3.55 billion, posted a statement announcing the JV on the ADX's website. The new joint venture, named ASBI Shipping FZCO, aims to own and operate mid-sized LPG and product tankers, targeting growing demand in regional and infrastructure-constrained part of its initial operations, ASBI has acquired two 22,000 cbm semi-refrigerated LPG tankers, Alkaid and Alcor. The vessels are backed by a 10-year charter agreement with BGN INT DMCC, a subsidiary of BGN that trades over 50 million metric tonnes of commodities annually. The deal is expected to generate Dh660 million ($180 million) in revenue through on the partnership, Guy Neivens, CEO of Al Seer Marine, said, 'The global energy landscape is evolving rapidly, reshaping how countries manage their supply chains. This transformation is driving increased demand for smaller, more flexible LPG vessels that can efficiently serve regional hubs and infrastructure-constrained ports.'To support the vessel acquisition, Abu Dhabi Commercial Bank has extended Dh210 million ($57.2 million) in senior secured term financing. The seven-year facility is secured by the vessels and their associated cash flows, underlining institutional confidence in the JV's commercial to Rüya Bayegan, CEO of BGN Group,'Our charter with ASBI aligns with BGN's focus on securing transition fuel supply chains. Smaller vessels are indispensable for ports lacking VLGC infrastructure.'The vessels, equipped with semi-refrigerated systems and high-standard safety features, are designed for carrying propane, butane, ammonia, and other petrochemical cargoes. These mid-size carriers are particularly suited to serve emerging hubs across Africa, South Asia, and Southeast Asia, where 30% of LPG shipments now rely on sub-30,000 cbm Turgut, Director at B International Shipping & Logistics, highlighted the demand outlook, 'We see this as a unique market window and intend to grow ASBI's fleet to meet regional demand and become a global leader in this specialised segment.' The formation of ASBI Shipping reflects Al Seer Marine's capital-efficient expansion model, aimed at scaling through partnerships and capturing market share in high-demand maritime sectors.
Mid East Info
20-02-2025
- Business
- Mid East Info
Abu Dhabi Exports Office Grows Nine-Lender Finance Facility for Energy Trader BGN to More than $230m - Middle East Business News and Information
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 conventional financing. In recent years, the UAE's robust trade finance sector has evolved into a highly sophisticated enabler for global players such as BGN, emboldening them to optimize capital and drive sustained growth. In 2024, UAE trade levels surged to an all-time high of $800 billion. Central to this economic vitality is the UAE's position as one of the world's top oil producers, with the energy sector contributing approximately 30% to the country's GDP. Furthermore, oil and gas exports account for nearly 13% of the UAE's total export value, reinforcing its fundamental role in the global marketplace. The expanded facility clearly reflects this strength, driven by the convening power and agile structuring spearheaded by ADEX and FAB. Abu Dhabi Commercial Bank (ADCB) also played a key role as Facility Agent for this collaboration, along with the National Bank of Fujairah, the Commercial Bank of Dubai, Mashreqbank, the Arab Bank, the National Bank of Ras Al Khaimah, Emirates NBD Bank, and Ajman Bank. To commemorate this milestone, a signing ceremony was held in Abu Dhabi. Khalil Al Mansoori, Director General of ADEX; Rüya Bayegan, Group CEO of BGN; and senior representatives of all banks involved formalised the agreement. 'This landmark cooperation, facilitated by ADEX, underscores the UAE's leadership in designing financial frameworks that revolutionise international trade. By seamlessly integrating both conventional and Islamic banks into a single, innovative financing structure, ADEX is supporting the UAE's dynamic trade finance ecosystem, solidifying our nation's position as a competitive global hub for commerce. This alliance sets a new standard for cross-border financing, propelling the UAE to the forefront of the evolving financial landscape.' 'This expanded RCF demonstrates the UAE financial sector's robust confidence in BGN's strategic role within the region's energy trading complex. The flexible terms and innovative structure of this facility provide a welcome addition to our diversified international liquidity base. We are committed to further strengthening financial partnerships in the GCC, and in other regions, to empower our global business expansion and trading growth,' said Rüya Bayegan, Group CEO of BGN. The oversubscription of the BGN lending facility highlights ADEX's growing influence in catalysing trade finance solutions that boost the UAE's economy through coordinated local action, in close collaboration with banking partners. HFW, legal counsel for BGN, and Reed Smith, legal counsel for the lenders, advised the transaction. About ADEX: Established by the Abu Dhabi Fund for Development (ADFD) in 2019, the Abu Dhabi Exports Office (ADEX) offers financing solutions to Emirati exporters to help increase the country's export volume and promote UAE export business in the global markets. ADEX's mandate includes providing credit facilities to overseas buyers and importers via direct and indirect loans and guarantees, thereby enhancing the export sector's pivotal economic role and promoting its global competitiveness. This is in line with the UAE's economic diversification strategy. The entity also seeks to expand the range of locally made exported goods and services, being among the main pillars of the country's sustainable development. About BGN: BGN is an international, partnership-focused energy and commodity trading business. The company has offices in key hubs such as Dubai, Geneva, Houston, Rotterdam and Singapore, and counts more than 750 staff at its 22 locations around the world. As well as trading traditional energy products – and being widely known for its prominence in the international trade of LPG (liquefied petroleum gas) – BGN has more recently made strides into the LNG (liquefied natural gas), SAF (Sustainable Aviation Fuel) and carbon markets. Altogether, BGN's annual commodity movement approaches 50 million metric tons.
Trade Arabia
19-02-2025
- Business
- Trade Arabia
ADEX grows finance facility for energy trader BGN to $230m
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 conventional financing, said an ADEX statement. In recent years, the UAE's robust trade finance sector has evolved into a highly sophisticated enabler for global players such as BGN, emboldening them to optimise capital and drive sustained growth. In 2024, UAE trade levels surged to an all-time high of $800 billion. Central to this economic vitality is the UAE's position as one of the world's top oil producers, with the energy sector contributing approximately 30% to the country's GDP. Furthermore, oil and gas exports account for nearly 13% of the UAE's total export value, reinforcing its fundamental role in the global marketplace. The expanded facility clearly reflects this strength, driven by the convening power and agile structuring spearheaded by ADEX and FAB. Abu Dhabi Commercial Bank (ADCB) also played a key role as Facility Agent for this collaboration, along with the National Bank of Fujairah, the Commercial Bank of Dubai, Mashreqbank, the Arab Bank, the National Bank of Ras Al Khaimah, Emirates NBD Bank, and Ajman Bank. To commemorate this milestone, a signing ceremony was held in Abu Dhabi. Khalil Al Mansoori, Director General of ADEX; Rüya Bayegan, Group CEO of BGN; and senior representatives of all banks involved formalised the agreement. 'This landmark cooperation, facilitated by ADEX, underscores the UAE's leadership in designing financial frameworks that revolutionise international trade. By seamlessly integrating both conventional and Islamic banks into a single, innovative financing structure, ADEX is supporting the UAE's dynamic trade finance ecosystem, solidifying our nation's position as a competitive global hub for commerce. This alliance sets a new standard for cross-border financing, propelling the UAE to the forefront of the evolving financial landscape,' said Bayegan. 'This expanded RCF demonstrates the UAE financial sector's robust confidence in BGN's strategic role within the region's energy trading complex. The flexible terms and innovative structure of this facility provide a welcome addition to our diversified international liquidity base. We are committed to further strengthening financial partnerships in the GCC, and in other regions, to empower our global business expansion and trading growth.' The oversubscription of the BGN lending facility highlights ADEX's growing influence in catalysing trade finance solutions that boost the UAE's economy through coordinated local action, in close collaboration with banking partners, said the statement.
Zawya
19-02-2025
- Business
- Zawya
Abu Dhabi Exports Office grows nine-lender finance facility for energy trader BGN to more than $230mln
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 conventional financing. In recent years, the UAE's robust trade finance sector has evolved into a highly sophisticated enabler for global players such as BGN, emboldening them to optimize capital and drive sustained growth. In 2024, UAE trade levels surged to an all-time high of $800 billion. Central to this economic vitality is the UAE's position as one of the world's top oil producers, with the energy sector contributing approximately 30% to the country's GDP. Furthermore, oil and gas exports account for nearly 13% of the UAE's total export value, reinforcing its fundamental role in the global marketplace. The expanded facility clearly reflects this strength, driven by the convening power and agile structuring spearheaded by ADEX and FAB. Abu Dhabi Commercial Bank (ADCB) also played a key role as Facility Agent for this collaboration, along with the National Bank of Fujairah, the Commercial Bank of Dubai, Mashreqbank, the Arab Bank, the National Bank of Ras Al Khaimah, Emirates NBD Bank, and Ajman Bank. To commemorate this milestone, a signing ceremony was held in Abu Dhabi. Khalil Al Mansoori, Director General of ADEX; Rüya Bayegan, Group CEO of BGN; and senior representatives of all banks involved formalised the agreement. 'This landmark cooperation, facilitated by ADEX, underscores the UAE's leadership in designing financial frameworks that revolutionise international trade. By seamlessly integrating both conventional and Islamic banks into a single, innovative financing structure, ADEX is supporting the UAE's dynamic trade finance ecosystem, solidifying our nation's position as a competitive global hub for commerce. This alliance sets a new standard for cross-border financing, propelling the UAE to the forefront of the evolving financial landscape.' 'This expanded RCF demonstrates the UAE financial sector's robust confidence in BGN's strategic role within the region's energy trading complex. The flexible terms and innovative structure of this facility provide a welcome addition to our diversified international liquidity base. We are committed to further strengthening financial partnerships in the GCC, and in other regions, to empower our global business expansion and trading growth,' said Rüya Bayegan, Group CEO of BGN. The oversubscription of the BGN lending facility highlights ADEX's growing influence in catalysing trade finance solutions that boost the UAE's economy through coordinated local action, in close collaboration with banking partners. HFW, legal counsel for BGN, and Reed Smith, legal counsel for the lenders, advised the transaction About ADEX Established by the Abu Dhabi Fund for Development (ADFD) in 2019, the Abu Dhabi Exports Office (ADEX) offers financing solutions to Emirati exporters to help increase the country's export volume and promote UAE export business in the global markets. ADEX's mandate includes providing credit facilities to overseas buyers and importers via direct and indirect loans and guarantees, thereby enhancing the export sector's pivotal economic role and promoting its global competitiveness. This is in line with the UAE's economic diversification strategy. The entity also seeks to expand the range of locally made exported goods and services, being among the main pillars of the country's sustainable development. To learn more about our services and solutions, please visit our website or get in touch via @AbuDhabiexports About BGN BGN is an international, partnership-focused energy and commodity trading business. The company has offices in key hubs such as Dubai, Geneva, Houston, Rotterdam and Singapore, and counts more than 750 staff at its 22 locations around the world. As well as trading traditional energy products – and being widely known for its prominence in the international trade of LPG (liquefied petroleum gas) – BGN has more recently made strides into the LNG (liquefied natural gas), SAF (Sustainable Aviation Fuel) and carbon markets. Altogether, BGN's annual commodity movement approaches 50 million metric tons. To learn more about BGN, please visit the website and follow us on LinkedIn. Media enquiries: mediabgn@
Zawya
19-02-2025
- Business
- Zawya
Abu Dhabi Exports Office grows nine-lender finance facility for BGN to more than $230mln
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 conventional financing. In recent years, the UAE's robust trade finance sector has evolved into a highly sophisticated enabler for global players such as BGN, emboldening them to optimise capital and drive sustained growth. In 2024, UAE trade levels surged to an all-time high of $800 billion. Central to this economic vitality is the UAE's position as one of the world's top oil producers, with the energy sector contributing approximately 30% to the country's GDP. Furthermore, oil and gas exports account for nearly 13% of the UAE's total export value, reinforcing its fundamental role in the global marketplace. The expanded facility clearly reflects this strength, driven by the convening power and agile structuring spearheaded by ADEX and FAB. Abu Dhabi Commercial Bank (ADCB) also played a key role as Facility Agent for this collaboration, along with the National Bank of Fujairah, the Commercial Bank of Dubai, Mashreqbank, the Arab Bank, the National Bank of Ras Al Khaimah, Emirates NBD Bank, and Ajman Bank. To commemorate this milestone, a signing ceremony was held in Abu Dhabi. Khalil Al Mansoori, Director General of ADEX; Rüya Bayegan, Group CEO of BGN; and senior representatives of all banks involved formalised the agreement. 'This landmark cooperation, facilitated by ADEX, underscores the UAE's leadership in designing financial frameworks that revolutionise international trade. By seamlessly integrating both conventional and Islamic banks into a single, innovative financing structure, ADEX is supporting the UAE's dynamic trade finance ecosystem, solidifying our nation's position as a competitive global hub for commerce. This alliance sets a new standard for cross-border financing, propelling the UAE to the forefront of the evolving financial landscape.' 'This expanded RCF demonstrates the UAE financial sector's robust confidence in BGN's strategic role within the region's energy trading complex. The flexible terms and innovative structure of this facility provide a welcome addition to our diversified international liquidity base. We are committed to further strengthening financial partnerships in the GCC, and in other regions, to empower our global business expansion and trading growth,' said Rüya Bayegan, Group CEO of BGN. The oversubscription of the BGN lending facility highlights ADEX's growing influence in catalysing trade finance solutions that boost the UAE's economy through coordinated local action, in close collaboration with banking partners. HFW, legal counsel for BGN, and Reed Smith, legal counsel for the lenders, advised the transaction.
