Energy trader, gas carrier owner and operator BGN has doubled its revolving credit facility to $232.5m from Abu Dhabi Exports Office (ADEX) and First Abu Dhabi Bank (FAB).
The oversubscribed facility was originally set at $100m with a $120m target, and its popularity “marks a watershed in regional trade finance by incorporating an innovative Murabaha tranche to accommodate Islamic Banks”, said BGN in a statement.
